Sri Lanka interim budget to parliament on Dec21

ECONOMYNEXT – Sri Lanka will present an interim budget or vote-on-account to parliament on December 21, which will cover spending for the first four months of 2019, Finance Minister Mangala Samaraweera said.

The vote on account will have allocations for 480 billion rupees of current spending and 310 billion rupees of capital spending.

The vote-on-account will also have provisions for 970 billion rupees in debt service, the Finance Ministry said.

Sri Lanka has to repay a billion dollar sovereign bond in January, as well as rollover domestic and multilateral foreign debt. 

Land Minister Gayantha Karunathilake said the cabinet had passed the vote on account at its first meeting Thursday morning. (Colombo/Dec20/2018)

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