IMF backs Sri Lanka’s plan to boost revenue with vehicle imports
(Photo made by Microsoft Copilot)
The Sri Lankan government has set positive financial targets for 2025 while engaging with the IMF programme.
The IMF also suggested that allowing vehicle imports could be a “very good source of revenue.”
Peter Breuer, Senior Mission Chief at the IMF, said that lifting restrictions on vehicle imports was discussed during this review and in earlier ones.
“We knew removing restrictions on vehicle imports could be a very good source of revenue for the government in the year ahead. It’s one of the rare opportunities to increase government revenue,” he said.
The IMF also emphasized that this should be handled carefully to avoid putting too much pressure on the country’s foreign exchange reserves.
In 2025, Sri Lanka aims to increase government revenue to 15.1% of GDP and achieve a 2.3% surplus in its primary account.
Latest Headlines in Sri Lanka
- Sri Lanka grants government employees leave on Wednesdays amid fuel shortage March 16, 2026
- Sri Lanka Navy seizes 123kg of heroin worth Rs. 3 Billion on trawler March 16, 2026
- Sri Lanka prioritises ambulances in fuel distribution March 16, 2026
- Sri Lanka Police warn of legal action over QR fuel system misuse March 16, 2026
- Sri Lanka moves to protect essential services amid Middle East war fears March 15, 2026
