Sri Lanka cabinet approves budget bill for 2021
ECONOMYNEXT – Sri Lanka’s cabinet of ministers had approved an Appropriation Bill covering the budget for the 2021 fiscal year, the state information office said.
Current expenditure outlined for 2021 is 2,690 billion rupees.
Capital expenditure is 2,216 billion rupees.
The numbers may not correspond to the standard budget format presented in parliament as the Appropriation Bill lists debt repayments and roll-overs as capital expenditure.
The presentation of the Appropriation bill, called the first reading will be in November. The formal budget speech is the second reading of the bill.
The cabinet had also approved an Appropriation Bill covering the 2020 fiscal year, which was operated through several votes on account and using Presidential authority after parliament was dissolved.
The 2020 bill has listed current expenditure as 2,692 billion rupees.
Capital expenditure was given as 1,846 billion rupees.
The Bill also makes provision for 211 billion rupees of expenditure in 2019, which was in arrears.
Sri Lanka is expecting a budget deficit of 9 percent of gross domestic product this year. (Colombo/Oct06/2020)