Sri Lanka budget on March 05, vote on April 04
ECONOMYNEXT – Sri Lanka is to present a budget for 2019 on March 05 based on a expenditure allocated on a Appropriations Bill which will be presented to parliament by Finance Minister Mangala Samaraweera on February 05, the finance ministry said.
The debate on the budget will begin on March 13 and the final vote will be taken on April 04.
Sri Lanka has already presented an interim budget covering the first four months of the year.
The 2019 budget will aim to boost revenues to 17 percent of gross domestic product and keep current spending at 15.1 percent of GDP, the finance ministry said.
Such ambitious budget targets if reached, would generate a surplus in the current account of the budget of 1.9 percent of GDP.
The government is also aiming for a 3.5 percent of GDP overall deficit, with capital spending at 3.5 percent.
In current spending is limited to 15.1 percent of GDP, Sri Lanka should be able to reach a 3.5 percent of GDP deficit, with revenues of only 15.1 percent of GDP. (Colombo/Dec06/2018)