Tag: Budget

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 […]

Finance Minister Sarath Amunugama nearly missed presenting the 2006 budget today after his staff got the time wrong and forced him to an inauspicious start.Finance Minister Sarath Amunugama nearly missed presenting the 2006 budget today after his staff got the time wrong and forced him to an inauspicious start. Official invitations sent out by the […]

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 […]

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 […]

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 […]

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 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 […]

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 […]

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 […]

Punters at Sri Lanka’s tiny stockmarket, cashed out on budget day with poor postal voter turnout in the North and East also adding to investors woes, brokers said.Punters at Sri Lanka’s tiny stockmarket, cashed out on budget day with poor postal voter turnout in the North and East also adding to investors woes, brokers said. […]

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 […]

VAT on Financial Services Sri Lanka to hike value added taxes and excise duties to fund its welfare budget, finance minister Sarath Amunugama said Tuesday. VAT on Financial Services Sri Lanka to hike value added taxes and excise duties to fund its welfare budget, finance minister Sarath Amunugama said Tuesday. • VAT rate on financial […]