Courtesy Adaderana

The Ministry of Finance has published the full budget speech delivered by the Finance Minister Basil Rajapaksa at Parliament today (12).

Basil Rajapaksa delivered his maiden budget speech as the Minister of Finance today. It is the 76th Budget of the independent Sri Lanka and the second budget of the government of President Gotabaya Rajapaksa.

The annual state expenditure for next year will be Rs. 3,192 billion and the total revenue will be Rs. 2,284.

According to the minister, the budget deficit for the financial year 2022 is Rs. 1,628 billion which is 8.8 as a percentage. 

Minister Basil Rajapaksa said the government will make every effort to reduce the budget deficit to 8.8% in 2022, 6.1% in 2024, and 4.8% in 2025. We expect a balanced budget in 2028.” 

He said that in order to reduce the budget deficit measures for, solid expenditure management, increasing government revenue, and restructuring loss-making public enterprises are needed.

Read the full budget speech delivered by the minister below:

Finance Minister’s Full Budget Speech – 2022 by Ada Derana on Scribd