Defeat of 2024 Budget could lead to another ‘Aragalaya’ – Siyambalapitiya

Defeat of 2024 Budget could lead to another ‘Aragalaya’ – Siyambalapitiya

November 16, 2023   05:04 pm

State Minister of Finance Ranjith Siyamabalapitiya says that if the 2024 Budget presented to the parliament by the government is somehow defeated, it will only be a step backwards for Sri Lanka, and warned that it could possibly lead to another ‘Aragalaya’ struggle in the country.

Responding to questions raised by the media when the State Minister visited the Orugodawatta Customs Inspection Terminal this afternoon (16 Nov.), Siyambalapitiya stated that he personally does not believe that any MP in the Parliament wants that to happen again. 

The State Minister also commented on the debate that arose in Parliament concerning the legitimacy of the Budget deficit.

While acknowledging the fact that, as stated in the Fiscal Management (Responsibility) Act No. 03 of 2003, the budget deficit is prohibited from exceeding 5%, Siyambalapitiya highlighted the fact that, for the last 20 years, no government has been able to act in accordance with the said clause and maintain the budget deficit at this rate.

Thus, the State Minister of Finance notes that it was unfair to expect this of the 2024 Budget, which is being presented amidst one of the most severe and unprecedented economic crises that Sri Lanka has ever faced.

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