Colombo:
In Sri Lanka, which is mired in financial crisis, the interim budget will be presented on the 30th. Finance Minister Ranil Wickremesinghe is going to present the budget. After that, the debate on the budget will take place from Tuesday to Friday.
As the government negotiates for a loan from the International Monetary Fund in an effort to revive the economy, the presentation of the interim budget is considered significant.
An increased expenditure of Rs 2,796.4 billion was approved for 2021. Currently an additional amount of Rs 929.4 billion is allocated in the budget and approval is sought. Sri Lanka’s authorized debt ceiling was set at Rs 3,200 billion. The budget increases this credit limit by Rs 892 billion.
Ranil Wickramasinghe said that he is keen to provide relief through the interim budget to the people affected by daily power cuts and shortages of essential commodities like fuel, food and medicine.
The ruling Sri Lanka Podujana Peramuna General Secretary Sagara Kariyawasam has said that the interim budget will focus on restoring the economy while providing relief to the public as much as possible. He also said that the complete budget for 2023 will be presented in November.