Govt expects to spend Rs. 7,885 billion in 2023 - Finance State Minister

State Minister of Finance Ranjith Siyambalapitiya says that the government is expecting to spend Rs.7,885 billion in the year 2023.

Joining a press conference held in the Ruwanwella area today (Nov 13), the State Minister emphasized that the government is expecting to spend Rs. 7,885 billion of the budget to be presented for next year, whereas it is Rs. 1,785 billion more than the expenditure in 2022.

Further, the minister pointed out that the government has allocated Rs. 2,442 billion for recurring expenditure such as subsidies and salary payments.

The expenses to be paid for capital expenditures such as constructions, together with the payments which have to be paid for completed projects are Rs. 1,221 billion, he added.

Meanwhile, an expenditure of Rs. 4,218 billion is scheduled to be made for loan installments and interest payments, according to the state minister.

State Minister Siyambalapitiya also mentioned that initially Rs. 572 billion for social security, Rs. 504 billion for education, Rs. 432 billion for health sector and Rs.410 billion for state security have been allocated with the upcoming budget, since the people are hopeful for huge relief at this occasion.

Moreover, the State Minister expressed that 2023 is a year of trying to rise up at a moment when the economy has fallen down a deep precipice.