Category: Budget

The debate over expansionary fiscal policy took a new turn with Finance Minister Sarath Amunugama making apparently contradictory statements in the budget, when defending himself against charges of igniting galloping inflation by printing money. “The Honourable Finance Minister’s statement is what I call an oxymoron,” says Dr. Harsha de Silva, a leading critic of the […]

Cabinet this week cleared the long pending draft electronic transaction bill, intended to facilitate the use of modern communications and information storage tools in transactions. Cabinet this week cleared the long pending draft electronic transaction bill, intended to facilitate the use of modern communications and information storage tools in transactions. The legislation will create a […]

The 2006 budget expects revenue to go up by 1.1 percent of GDP to 17.5 percent of GDP and the overall budget deficit to remain at 7.1 percent of GDP. The 2006 budget expects revenue to go up by 1.1 percent of GDP to 17.5 percent of GDP and the overall budget deficit to remain […]

Sri Lanka plans to bring in changes to its banking laws before next March to mandate banks to double their agriculture lending portfolio, Treasury Secretary said Wednesday.Sri Lanka plans to bring in changes to its banking laws before next March to mandate banks to double their agriculture lending portfolio, Treasury Secretary said Wednesday. “Credit channeled […]

Sri Lankas main opposition party, the United National Party, took a sudden decision to boycott Tuesday budget, citing its a mere academicals exercise, a senior party spokesman said.“It was a sudden decision to boycott the budget, as there is no debate before the election next week,” UNP parliamentarian Rajitha Senerath said.rn rnSri Lankas Finance Minister […]

The Freedom Alliance Govenment on Tuesday presented its second budget since coming into power after the snap April 2004 polls.To read Finance Minister Dr. Sarath Amunugama’s speech, please click on the links below.The Freedom Alliance Govenment on Tuesday presented its second budget since coming into power after the snap April 2004 polls. To read Finance […]

Budget 2006 goes to Parliament next week, but Sri Lankan businesses are not showing the interest usually reserved for a national budget.Budget 2006 goes to Parliament next week, but Sri Lankan businesses are not showing the interest usually reserved for a national budget. Given Sri Lanka’s practice of sudden policy changes and surprise taxes, the […]

Sri Lanka’s government is likely to announce ambitious spending plans to help low-income groups and farmers when it presents its 2006 budget proposals next week, analysts say. Sri Lanka’s government is likely to announce ambitious spending plans to help low-income groups and farmers when it presents its 2006 budget proposals next week, analysts say. The […]

The Ceylon Chamber of Commerce wants a pre-election budgetary position made public, before the Presidential election.The Ceylon Chamber of Commerce wants a pre-election budgetary position made public, before the Presidential election. Sri Lanka’s leading trade chamber wants the government to amend the Fiscal Management (Responsibility) Act, to allow a pre-election fiscal report before a Presidential […]

Sri Lanka’s Prime Minister is promising to give paid paternity leave, duty free vehicles for good taxpayers, free spectacles for the disable, and splash out billions of rupees by way of welfare subsidies, if he wins next month’s presidential poll, his party said Tuesday. Sri Lanka’s Prime Minister is promising to give paid paternity leave, […]

Treasury Secretary says GDP growth will surpass six percent this year but independent economists give sharply lower forecasts. Treasury Secretary says GDP growth will surpass six percent this year but independent economists give sharply lower forecasts. Dr P. B. Jayasundera says higher tourism earnings and a better performance from agriculture will help the economy post […]

While the ‘pre Presidential poll’ budget is being sidelines as election propaganda, the country’s overall financial planning process is also losing its significance. While the ‘pre Presidential poll’ budget is being sidelines as election propaganda, the country’s overall financial planning process is also losing its significance. Successive governments, despite going through the pomp and pageantry […]