The Ministry of Finance and Mass Media says the Budget 2018 will be prepared based on the performance of the government ministries.
Issuing a message, the Ministry of Finance said the ministries are expected to come up with action plans and some projects and should elaborate on the benefits of the projects. The end stage projects should be presented by the ministries with main performance indicators.
The Ministry of Finance and Mass media has informed the heads of all the ministries, departments, provincial councils and statutory boards in this regard.
The discussions on the capabilities of the projects put forward by the ministries are being held at present with the participation of the secretaries of the ministries.
The government expects to improve the revenues to the government, rationalizing the recurring expenditures, increasing the percentage of government investments, reducing the budget deficit and much more.
The cabinet last month approved the Minister Samaraweera’s proposal to prepare budget 2018 on performance based budgeting according to midterm budget framework 2018-2020 and to determine budget limits for line ministries considering priority programs of the government.