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Sri Lanka tables budget bill in parliament

ECONOMYNEXT – Sri Lanka has tabled the Appropriation Bill outlining spending under each ministry for 2016 in parliament on October 23, as the first step in approving a budget for 2016.

The so-called second reading of the bill, made up of the budget speech by the Finance Minister with new taxes to reduce an expanded budget deficit triggered by higher salaries and pensions for state workers will be presented on November 20.

Debates on the budget will be held for 12 days from November 21. Committee stage amendments to be moved on 12 days from December 07 and the final vote on December 19.

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