Govt. expenditure for 2019 Rs.4,376Bn : Budget deficit 4.1-pct

Oct 02, 2018 (LBO) – As per the Appropriation Bill, which was presented to the Cabinet recently by Finance and Media Minister, Mangala Samaraweera, next year’s annual state expenditure will be 4,376 billion rupee.

The budget deficit will be 644 billion rupees, 4.1 percent of Gross Domestic Product, the Finance Ministry said issuing a statement.

The Government revenue is expected to be increased to 15.1 percent of the GDP in 2019.

2, 057 billion rupees has been allocated for debt servicing in 2019.

The Government expects to borrow 1, 944 billion rupees from local and foreign sources for its debt servicing including the financing of the budget deficit in 2019.

Among the government expenditures, 1, 456 billion rupees have been allocated for recurrent expenditure of the public sector  while 856 billion rupees has been allocated for capital expenditure.

The Government is to spend  1, 000 billion rupees for the salaries of  1.1 million public servants and 600,000 pensioners and an additional 220 billion rupees is allocated to provide public welfare such as Samurdhi allowance, school uniforms, free medicine , allowances for the elders, fertilizer subsidy, bag of nutritious food, payment for kidney patients and payments for the differently abled.

63 billion rupees has been allocated for series of development projects aimed at rural livelihood development programmes such as one project for one village development program, GramaShakthi, Gamperaliya and Pibidena Polonnaruwa

175 billion rupees has been allocated to develop highways  and complete the Southern Expressway  development up to Mattala; to develop and complete Colombo Outer Circular Road from Kadawatha to Kerawalapitiya and, construct the stretch of Central Expressway from Kadawatha to Mirigama.

This will also include  the construction of the elevated  Port Entry Road from Peliyagoda to   Colombo International Financial City.

Further 75 billion rupees has been allocated to complete middle and massive irrigation projects including the completion of the Uma Oya Multipurpose Development Projects and Moragahakanda Development project.

The Budget will be presented in Parliament by Minister MangalaSamaraweera on November 05,2018