The final draft of the Sri Lanka’s Budget 2025 was presented for the review of President Anura Kumara Dissanayake on Sunday at the Presidential Secretariat. Secretary to the Ministry of Finance, Mr. Mahinda Siriwardana, was also present at the occasion.
The budget speech will be presented tomorrow by President Dissanayake in his capacity as the Finance Minister.
Industry experts expect a populist approach in the NPP government’s first budget as the debt stricken nation still faces several challenges including shortage of rice. People also expect salary hikes of public sector employees as well as some relaxation in taxation proposals. It is being speculated that additional revenue can be obtained from the import of cars which the government has allowed from this month. At the same time, the government will have to adhere to Public Finance Management Act under which the primary expenditure needs to be kept under 13% of the GDP.
Due to holding of Presidential and Parliamentary elections in the last few months of 2024, budget for 2025 is being presented now. Sri Lanka’s Parliament had approved a vote on account to ensure public spending for first four months of 2025.
