State Minister of Finance Ranjith Siyambalapitiya says that the budget presented by the Minister of Finance to the Parliament tomorrow (14) for the year 2023 has reduced the defense expenses and increased the expenses for the social security of the people.
Accordingly, in the year 2023, Rs. 410 billion have been allocated as defense expenditure and Rs. 572 billion have been allocated for social security, the Minister of State for Finance said.
This year’s budget has allocated Rs. 504 billion for education and Rs. 432 billion for health, the state minister said.
Mr. Ranjith Siambalapitiya also said that in the budget presented for next year, Rs. 7885 billion have been allocated as public expenditure, which is an increase of 29.2% over the year 2022.
He mentioned that in this year’s budget, Rs. 2442 billion have been allocated as recurrent expenditure and the amount allocated for capital expenditure is Rs. 1221 billion.
He also mentioned that Rs. 4218 billion have been set aside in the year 2023 for the payment of loan premiums and interest in Sri Lanka.
