Sri Lanka plans 2019 budget with 3.5-pct deficit

ECONOMYNEXT – Sri Lanka’s cabinet of ministers had approved plans by Finance Minister Mangala Samaraweera for a budget with a deficit of 3.5 percent of gross domestic product in 2019, the state information office said.

The finance ministry hoped to boost revenue over 17 percent of GDP and keep current spending below 15 percent of GDP.

Capital expenditure will be kept at 5.5 percent of GDP.

The objective is to keep debt to GDP ratio at 70 percent, the proposal had said.

The parliament has passed an interim budget or vote-on-account for four months, until April.

The full-year budget will incorporate the numbers. (Colombo/Jan04/2019)

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