Basil Rajapaksa, Minister of Finance is scheduled to present the Budget Estimate for the year 2022 in Parliament today (12) at 2.00 pm.
This is the 76th budget of independent Sri Lanka and is the second budget of the current government and the first presented by Basil Rajapaksa as the Minister of Finance and Finance.
The Ministry of Finance states that it has been formulated under a formal program to transform the market economy into a productive economy.
The Ministry of Finance points out that this year’s budget includes proposals aimed at identifying areas for this and taking the country towards development by incorporating new technology.
The Ministry of Finance has stated that the 2022 budget will include the use of Sri Lanka’s geographical location to strengthen the country’s economy as well as to mitigate the foreign exchange crisis it faces.
The Ministry of Finance stated that the budget also includes a number of proposals to revive the economy in the face of the post-Kovid situation.
The Appropriation Bill for the year 2022 was introduced in Parliament on October 07.
Accordingly, the total expenditure of the country in 2022 will be around Rs. 5128 billion. These include public service salaries, subsidies, welfare, loan interest repayments, and development expenses.
The debate on the second reading of the budget will begin on Saturday the 13th. The vote on the second reading of the budget will take place on Tuesday the 22nd at 5 pm.
The third reading of the Budget or the Committee Stage Debate will commence on Tuesday the 23rd. After 16 days of debate, the third reading of the budget will take place on December 10 at 5 pm.
