Sri Lanka four-month budget passed in parliament without vote

By Editor_1 On Dec 6, 2024

President Anura Kumara Dissanayake delivering his policy statement at the inaugural session of the new Parliament in Colombo on Thursday (November 21, 2024) -Screenshot

COLOMBO – A vote on account for the first four months of 2025 pending a full budget, presented under constitutional powers given to President Anura Dissanayake was passed without a vote by Sri Lanka’s parliament on Friday (6).

The expenses for President Dissanayake were reduced with a 64% cut on advisors’ costs, Deputy Finance Minister Harshana Suriyapperuma said.

Sri Lanka is expecting revenues of 1,600 billion rupees for the period, with revenue agencies made more efficient and spending allocated for essential spending, he said.

Sri Lanka is emerging from a successful stabilization crisis with lower inflation, lower interest rates and a stronger currency, he said, adding that hope is emerging in the north and south of the country as well as businesses large and small, he said.

Bigger business and foreign investors are also expecting more transparent work from the new administration, Suriyapperuma said.

-economynext.com

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