Category: Budget
Ceylon Chamber of Commerce seminar to analyze national Budget 2019
Feb 27, 2019 (LBO) – Ceylon Chamber of Commerce will hold its annual National Budget seminar on 7th March 2019 that will discuss the implications of key policy changes in Budget 2019 and if it will be positive towards enhancing investments to strengthen Sri Lanka’s economic future.This seminar serves as an important opportunity for the business […]
Eminent lawyer K Kanag-Isvaran highlights need for Tax Ombudsman
Feb 07, 2019 (LBO) – President’s Counsel Dr. K. Kanag-Isvaran, who is one of the country’s most respected lawyers highlighted the need for a “Tax Ombudsman” in Sri Lanka. He highlighted this delivering the keynote speech at the 22nd Annual Tax Oration of CA Sri Lanka on “The Tax Collector and The Rights of the […]
Appropriation Bill for 2019 presented in parliament
Feb 05, 2019 (LBO) – The Appropriation Bill for the year 2019 was presented in parliament by Minister Gayantha Karunathilaka, Tuesday. The Cabinet in early January approved the Appropriation Bill for 2019 with an annual expenditure of Rs 4,470 billion with the Ministry of Defence secured the highest allocation of 393 billion rupees. The Ministry of Education […]
‘s Finance Ministry calls for proposals for Budget 2019
Jan 24, 2019 (LBO) – Sri Lanka’s Finance Ministry calls upon all stakeholders including the general public to make their proposals for the Budget 2019 before the February 11 as their contribution to ensure introduction of a successful budget targeting building a strong Economy and an Enriched country. The Finance Ministry expects to mould the […]
President signs USD455mn loan agreements with ADB for education, transport
Jan 17, 2019 (LBO) – Sri Lanka’s President Maithripala Sirisena made his first visit to the Asian Development Bank headquarters today while conducting a state visit to the Philippines and met with ADB President Takehiko Nakao. During the visit, Sirisena and Nakao have discussed development challenges faced by Sri Lanka and ADB’s role in helping address […]
Cabinet approves Appropriation Bill; budget deficit 4.8-pct of GDP
Jan 08, 2019 (LBO) – Sri Lanka’s Finance Ministry said the approval of the cabinet was granted to the Appropriation Bill 2019, submitted by the Finance Minister, Mangala Samaraweera. Accordingly, this year’s state expenditure will be 4,470 billion rupees and the budget deficit will be 4.8 percent of the GDP. The State revenue which was […]
Sri Lanka Budget 2019: Targets public revenue to increase 17-pct, Debt to GDP down to 70-pct
Jan 07, 2019 (LBO) – Sri Lanka’s Finance Ministry says Budget 2019 will increase public revenue to 17 percent of Gross Domestic Product (GDP) while capital expenditure will be limited to 3.5 percent of GDP. It will also target maintaining the debt-to-GDP ratio to just 70 percent with recurrent expenditure cut down to 15 percent […]
Perpetual Treasuries suspension of business activities extended by 6 months
Jan 04, 2019 (LBO) – Monetary Board of the Central Bank has decided to extend the suspension of Perpetual Treasuries Limited (PTL) from carrying on the business activities of a Primary Dealer for a period of six months with effect from tomorrow.The Central Bank said the extension was carried out in terms of the Regulations made […]
I think we are understating Sri Lanka’s GDP under new methodology: CB Governor
Jan 02, 2019 (LBO) – Sri Lanka’s Central Bank Governor on Wednesday pointed out that the authorities need to look at carefully whether they are recording the GDP of the country accurately.According to Coomaraswamy’s own view, the growth in 2018 should be somewhere between 3.5 and 4 percent. “I don’t think this is a 3 […]
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 […]
Sri Lanka rupee hits new low of Rs.180: Stocks down 0.34-pct
Nov 23, 2018 (LBO) – The Sri Lanka rupee dropped to a low of 180.66 against the US dollar following a political crisis, which began a month earlier in the island. The rupee was quoted at around 178.70/179.30 rupees on Friday, down from Wednesday’s closing of 178.40/70. The political crisis which began when president Maithripala Sirisena […]
‘s political crisis puts IMF loan negotiations on hold
Nov 21, 2018 (LBO) – The International Monetary Fund (IMF) loan facility to Sri Lanka, approved in mid-2016, has been put on hold due to the islands prevailing political crisis, a foreign media report said. I The IMF approved the loan facility on the condition of comprehensive economic reforms. Speaking to media two weeks before the […]