The Budget
Finance Minister Ravi Karunanyaka, the 20th Finance
Minister of Sri Lanka, will be presenting the third Budget of the National
Government in Parliament tomorrow 10th November 2016. Marking yet
another significant keystone in the history of Sri Lankan, Minister Ravi
Karunanyaka will be presenting the 70th budget of the nation.
The debate on the
Appropriation Bill, presented to Parliament last month, will commence on
November 11th 2016 and continue till December 10th 2016. The
Government expenditure for 2017 has been estimated to be around Rs.1, 819
billion, while the limit on borrowings for 2017 has been set at Rs 1,489
billion.
According to the Finance
Minister, the Government is to present a development budget, however much contemplation
and criticism has been expressed by civil societies with regards to the budget,
defining it as an ‘austerity budget’, and additionally stating such budget to
be a mere ‘tool’ of satisfaction fulfilling IMF and WB's expectations.
As evidenced by the
Appropriation bill, the Government has reduced expenditure on education and
health, while increasing expenses for the President's office.
Image Courtesy Sunday Times
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