Sri Lanka spending approval sought from vote on account

ECONOMYNEXT – Sri Lanka’s finance minister Mangala Samaraweera is to seek parliamentary approval for government expenditure and borrow for the four months up to April 30, 2019 in place of a budget, ahead of presidential elections planned for November.

The finance minister is due to present a resolution seeking to spend a total of 1,469 billion rupees and repay debt.

Approval is also sought to raise up to 721 billion rupees in debt.

Sri Lanka’s current administration is not presenting a full year budget, leaving room for any newly elected President to carry out his policies, Finance Minister Samaraweera has said. (Colombo/Oct23/2019)

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