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Sri Lanka President, PM to unveil 8-year plan on Sept 04

Aug 25, 2017 06:43 AM GMT+0530 | 0 Comment(s)

ECONOMYNEXT - Sri Lanka's President Maithripala Sirisena and Prime Minister Ranil Wickramasinghe will present an eight year plan on September 04, State Minister for Finance Eran Wickramaratne said.

It will be a 'common vision' covering economic and other matters, he said.

Sri Lanka's coalition between Prime Minister Wickramasinghe's United National Party and President Sirisena's Sri Lanka Freedom Party reaches the halfway two year market in September.

The parliament cannot be dissolved for four years by the President.

The current administration began in 2015 by hiking state worker salaries and subsidies, pushing the budget off the rails, and the central bank printed money leading to a currency collapse and the denial of a living wage to lower income groups in particular.

Sri Lanka has since hiked value added taxes and removed exemptions, and a new Inland Revenue Act (income tax law) is to be presented to parliament on Friday. (Colombo/Aug25/2017)


 

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