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Sri Lanka to prepare Budget 2018

Minister of Finance and Mass Media Mangala Samaraweera has presented a proposal to the Cabinet of Ministers to prepare the Budget 2018 on Performance based budgeting.

According to the proposal, the Macro – Public Finance Framework for preparation of budget 2018 aims to achieve several targets in 2020.

These targets include increasing the public income up to 16.5% of GDP, recurrent expenditure to be 14.8% of the GDP, public investment to be 5.3% of GDP, reducing budget deficit to 3.5% of GDP, and reducing public debt to 70% of GDP.

Accordingly, the proposal made by Minister Samaraweera 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, received approval from the Cabinet of Ministers this week.

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