Sri Lanka’s budget 2016 targets budget deficit of 5.5 pct- of GDP

Aug 03, 2015 (LBO) – Sri Lanka wants to reduce the budget deficit to 5.


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5 percent of gross national production over 2016 to 2018, maintaining the state investment at around 6 to 8 percent of GDP, Cabinet Spokesman Minister Rajitha Senaratne said.
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The Finance Ministry had informed the cabinet that it has begun preparations for the 2016 budget and it will be on the principle of 'zero-based budgeting'. The budget will also encourage to make private sector investment between 22 – 24 percent of the GDP to maintain the total investment level of the economy at 30 percent of the GDP, Senaratne said.
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The government plans to achieve an economic growth beyond 8 percent in the medium term framework of the budget 2016.
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