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Sri Lanka 2017 budget aims for strong economic foundation: FinMin

ECONOMYEXT – Sri Lanka’s 2017 budget is aiming to lay a strong foundation for growth and lower poverty, Finance Minister Ravi Karunanayake said.

"It may be a difficult journey but it will lay the base for a better future," Karunanayake told parliament in a budget speech.

He said public private partnerships will be forged and private sector will be allowed to grow instead of engaging in excessive state intervention.

Sri Lanka’s state enterprises were also in a weak state and was eating into tax collections, Karunanayake said.

The coutnry aims to boost trade and exports, giving higher incomes.

Eliminating exists pockets of povery and raising incomes of rural and estate population would be a key focus on the goverment.

The goverment is also planning to eliminate the development gap between former war torn areas and the rest of the country by 2020, Karunanayake said. (Update III)

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