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Sri Lanka cabinet clears interim budget up to April

ECONOMYNEXT – Sri Lanka’s cabinet of ministers had cleared a four month interim budget, ahead of Presidential polls scheduled for December.

The vote-on-account will cover the period from January to April 2019.

Finance Minister Mangala Samaraweera had earlier sought approval to present a four month budget, which would give a new president elected after election a free hand.

The budget comes as revenue targets are missed for 2019 after a currency collapse in 2018 and current spending is rising.

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