Sri Lanka to delay 2020 budget, 4-month vote on account

ECONOMYNEXT – Sri Lanka will delay a budget for 2020 by four months until after a presidential election is held an a new cabinet is in place, the state information office said.

Sri Lanka’s cabinet of ministers had approved a proposal by Finance Minister Mangala Samaraweera to present a vote-on-account covering the expenditure for the first four months of the year instead of a full year budget.

The mini-budget will allow a new cabinet that comes after the presidential elections to present a budget according to its own policies.

Gothabaya Rajapaksa has been nominated by Sri Lanka Podujana Party of opposition leader Mahinda Rajapaksa to contest the election.

Prime Wickremesinghe’s United National Party is yet to announce a candidate but Deputy Leader Sajith Premadasa is one of the front runners. (Colombo/Aug15/2019)

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