Term Report

The government will miss the June 30 deadline to put out a mid year fiscal position report, as per its obligations in the Fiscal Management Act passed in 2003. The government will miss the June 30 deadline to put out a mid year fiscal position report, as per its obligations in the Fiscal Management Act passed in 2003. Deputy Director General of the Fiscal Management and Economic Affairs unit of the Finance Ministry A K Seniviratne on Thursday said the report was still in the process of being typed out.

The reports intentions are to match the economy’s fiscal performance against the fiscal strategy of the government and the national budget.

Policy experts however say the government could be holding back the report until parliament recommences, interpreting the Act which requires the ruling party to submit the performance report to the legislative body.

Sittings are set to recommence on July 5 after being suspended on June 24 when the government’s coalition partner – the JVP protested during the sessions against the tsunami aid sharing deal with the TTE.

Section 3 of the Fiscal Management (Responsibility) Act, No.03 of 2003 sets out the gover