Sri Lanka parliament passes vote-on-account for Aug-Dec 2020

ECONOMYNEXT – Sri Lanka’s parliament passed a vote-on-account authorizing the spending of 949.7 billion rupees from August to December 2020, as well as earlier money spend under presidential authority.

The mini-budget passed without a division (a vote being called).

The administration of President Gotabaya Rajapaksa has an overwhelming majority in parliament.
The mini-budget involves current spending of 613.45 billion rupees and capital spending of 336.3 billion rupees.

The motion also sought approval for earlier allocations made under section 150 of the constitution.
Under Treasury bills ordinance permission was sought for 750 billion rupees.

The motion sought approval to borrow 1,300 billion rupees in domestic and foreign borrowings for the year. (Colombo/Aug28/2020)

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