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Sri Lanka’s annual budget presentation got off to an inauspicious start with the main opposition party boycotting the proceeding, while government benches were half empty. Sri Lanka’s annual budget presentation got off to an inauspicious start with the main opposition party boycotting the proceeding, while government benches were half empty. Finance Minister Sarath Amunugama began […]

Sri Lanka plans to spend more and borrow further next year as expenses for defence and fuel related subsidies escalate.Sri Lanka plans to spend more and borrow further next year as expenses for defence and fuel related subsidies escalate. Total state spending will rise 30 percent to Rs.568.3 billion (US$ 5.6 billion) in 2006 from […]

Sri Lanka hopes to contain its 2006’s budget deficit at 8.2 percent of gross national product (GNP) while keeping total expenses within Rs.1003 billion. Sri Lanka hopes to contain its 2006’s budget deficit at 8.2 percent of gross national product (GNP) while keeping total expenses within Rs. 1003 billion. Cabinet Spokesperson and Health Minister Nimal […]

The presidential election has cast a cloud over the budget making it less important to investors and the private sector in general. The presidential election has cast a cloud over the budget making it less important to investors and the private sector in general. Uncertainty as to what policies may be implemented or amended after […]

Sri Lanka’s main opposition Sunday demanded the postponement of the annual budget until after the presidential vote next month, arguing that the government may use it to boost its electoral fortunes.Sri Lanka’s main opposition Sunday demanded the postponement of the annual budget until after the presidential vote next month, arguing that the government may use […]

Sri Lanka plans to lean on foreign aid and debt relief to trim its deficit, though Tuesday’s budget will be sugar coated to woo voters in the run up to next week’s keenly contested presidential poll.Sri Lanka plans to lean on foreign aid and debt relief to trim its deficit, though Tuesday’s budget will be […]

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 […]

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, […]

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 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 […]

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 […]