State revenue has increased to 15.8% of GDP in first quarter of 2023 – State Minister of Finance

State Minister of Finance Ranjith Siyambalapitiya while attending the press conference organized by the Presidential Media Centre (PMC) on Wednesday (28) under the theme ‘One path to a stable country’ said that state revenue has increased from 7.3% of GDP in 2022 to 15.8 percent of GDP in the first quarter of 2023.

The minister pointed out that increasing Government revenue is a crucial concern in the country’s economy and could be achieved only by increasing taxes.

“Tax collection, whether direct or indirect, is a difficult undertaking. However, the current tax system has been brought to a suitable level and  the administration does not intend to levy new taxes on citizens” he added.