Empower your business in Sri Lanka and internationally with Prifinance expert corporate and financial services. Streamline company formation and investment opportunities with our tailored advice and solutions.

Sri Lanka revised 2006 budget likely to have more welfare

A new budget that the Sri Lankan government will announce next week to fulfill some of the new President's election promises is likely to contain welfare measures and help for farmers. A new budget that the Sri Lankan government will announce next week to fulfill some of the new President's election promises is likely to contain welfare measures and help for farmers. However, the new spending is not expected to lead to a deficit blowout, with analysts expecting overall spending to increase by another Rs. 5 billion ($50 million) and the budget gap by a marginal 0.2 percentage point of gross domestic product.

The 2006 budget proposed Nov. 8 - before Finance Minister Mahinda Rakapakse won the Nov.

online pharmacy buy stendra with best prices today in the USA

17 presidential election - has a budget deficit target of 9% of GDP, slightly wider than this year's 8.5%.

Rajapakse, in his capacity as Minister of Finance, will announce the revised budget proposals in parliament on Dec.

online pharmacy buy diflucan with best prices today in the USA

8.

"Apart from more welfare measures, we don't expect the new budget to contain significant changes from the one already announced. The likely higher spending may not have a major impact on the deficit," said Hasitha Premaratne, head of research at HNB Stock Brokers.

Rajapakse won the election on a campaign aimed at offering relief to the lower-income groups and local industries which make up a large voting group.

buy ciprodex online http://abucm.org/assets/pdf/ciprodex.html no prescription pharmacy

Providing fertilizer subsidies to farmers and bringing down the cost of living were among the promises made in his election campaign.

Rajapakse's economic adviser, Nivard Cabraal, told Dow Jones Newswires earlier this month that "the budget will have a lot of proposals that are development-oriented" but didn't elaborate.

buy female cialis online http://abucm.org/assets/pdf/female-cialis.html no prescription pharmacy

Analysts expect the revised budget to retain proposals like farmer benefits, higher wages for public servants and an increase in pension payments. These will comprise the bulk of the overall spending.

The new budget is likely to include a proposal to set up three small state banks that will offer incentives to the agriculture sector.

buy minocin online https://fromaddictiontorecovery.com/NAV2/_notes/mno/minocin.html no prescription pharmacy

The Nov. 8 budget estimated total spending for 2006 at Rs. 721 billion, compared with an expected Rs. 586 billion for the current year.

buy female cialis online https://fromaddictiontorecovery.com/NAV2/_notes/mno/female-cialis.html no prescription pharmacy

Total revenue in 2006 was estimated at Rs. 477 billion, up from Rs. 386 billion in 2005, and is expected to be helped by proposed higher taxes on companies, banks, and alcohol and tobacco sales.

buy flexeril online http://abucm.org/assets/pdf/flexeril.html no prescription pharmacy

These proposals are likely to stay.

Cabraal said the government will not increase taxes levied on the private sector as "we will be very conscious of fiscal management.

online pharmacy buy rybelsus with best prices today in the USA


buy avanafil online buy avanafil online no prescription
We will try our best to reduce the budget deficit as well."

The government, said analysts, isn't likely to increase domestic borrowings as it wouldn't want the deficit to widen too much ahead of plans to secure a sovereign rating from international ratings agencies. The government plans to borrow more from the international capital markets to fund its spending.

online pharmacy buy abilify with best prices today in the USA

"Taking into consideration that a rating is imminent, the government might focus more on external borrowings to fund the budget deficit and keep pressure off the domestic market," said Ajith Fernando, the chief executive of Capital Alliance Group.

buy tamiflu online https://yourolddog.com/wp-content/uploads/2020/08/png/tamiflu.html no prescription pharmacy

Domestic borrowing is estimated at Rs. 124 billion next year, according to the original budget, up from Rs.

buy vilitra online https://yourolddog.com/wp-content/uploads/2020/08/png/vilitra.html no prescription pharmacy

115 billion this year.

Foreign borrowing, excluding outright grants worth Rs. 42 billion, is estimated at Rs. 75 billion in 2006, up from Rs.

buy levofloxacin online https://yourolddog.com/wp-content/uploads/2020/08/png/levofloxacin.html no prescription pharmacy

48.8 billion this year.

Even if government borrowing doesn't show a large increase, yields won't likely fall because of high inflation. Inflation in November was 12.1%, based on a 12-month moving average, up sharply from 7.

buy ocuflox online https://fromaddictiontorecovery.com/NAV2/_notes/mno/ocuflox.html no prescription pharmacy

6% at the end of last year, fueled by more credit to the private and public sectors.

Cabraal said the government is keen to keep inflation down but didn't spell out any specific measures.

"The budget could also contain some relief measures that will help bring down inflation and without affecting the overall deficit target," added Premaratne of HNB Stock Brokers.

online pharmacy buy zofran with best prices today in the USA

(Dow Jones)
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
Top
0
Would love your thoughts, please comment.x
()
x