Budget to be presented on November 17 | Sunday Observer

Budget to be presented on November 17

1 October, 2020

The Government will present the budget for the year 2021 in Parliament on November 17, said Finance Ministry Secretary S.R. Attygalle.

Addressing a media briefing in Colombo yesterday, he said that it is a unique situation in the history of this country where the government has carried out its expenses sans a budget. However, this year’s expenditure was fulfilled through a Vote on Account which was passed in Parliament.

Attygalle noted that he expects the budget deficit for this year to be 9% of the GDP, adding that however, the government expects to stabilize next year’s budget deficit at around 4.5% of the GDP irrespective of the challenges they may have to face.

Prime Minister Mahinda Rajapaksa will present the budget in Parliament in his capacity as the Finance Minister. The government will present the budget based on President Gotabaya Rajapaksa’s ‘Vistas of Prosperity’ Policy Statement targeting people centric development, economic development and welfare for the people. In addition focus would also be paid on uplifting the businesses that have suffered setbacks and uplifting of the business sector.