Vote on Account to be presented in Parliament tomorrow; 55-pct for debt repayments

Dec 20, 2018 (LBO) – Vote on Account to cover the expenditures of the first four months of 2019 to be presented in Parliament tomorrow, Mangala Samaraweera assuming duties as the Finance Minister told reporters.
Accordingly, 1,765 billion rupees have been allocated for government expenditure from which 970 billion rupees have been allocated for debt servicing that includes interest and principal payments.
480 billion rupees have been allocated for recurring expenditure while 310 billion rupees have been allocated for capital expenditure.
Mangala Samaraweera said around 55 percent of the expenditure has been allocated for debt repayment. He added that the budget for 2019 to be presented in the Parliament next month.
Samaraweera further said that the fuel price formula will be reintroduced with the fuel price revision that will take place tomorrow.
Newly appointed cabinet approved the vote on account just after the swearing-in ceremony held at the Presidential Secretariat.
Related: Sri Lanka’s new Cabinet of Ministers sworn in