What are the key fiscal measures in Sri Lanka's 2025 budget plan?

Sri Lanka's 2025 budget, presented by President Anuradh Dasanaike, includes several crucial fiscal measures aimed at economic recovery. The government targets reducing the budget deficit to 6.7% of GDP (down from 6.8% in 2024) while raising tax revenue to 15% of GDP. These changes align with the requirements of the IMF's $2.9 billion bailout package. Additionally, the budget introduces a phased debt repayment approach scheduled to begin in 2028, designed to stabilize finances and restore investor confidence. The National People's Power Government emphasizes fiscal discipline and long-term stability as foundational elements for achieving the projected 5% economic growth in 2025.