President Ranil Wickremesinghe, in his capacity as the Minister of Finance, Economic Stabilization and National Policies, presented his maiden full budget aimed at creating long-term stable economic growth, in parliament today (Nov 14).
According to the Head of State, the budget deficit for the fiscal year 2023 is estimated at Rs. 2,404 billion, which is 7.9 as a percentage.
The total expenditure for next year will be Rs. 5,819 billion (19.2%) and the total revenue and grants will be Rs. 3,415 billion (11.3%).
In the 77th Budget of independent Sri Lanka, the government has allocated Rs. 4,609 billion for recurring expenditure such as subsidies and salary payments. For salaries and wages, Rs. 1,002 billion has been set aside, and Rs. 1,114 billion for subsidies and transfers.
