Cabinet approves Appropriation Bill

Cabinet has granted approval to the Appropriation Bill presented by the Minister of Finance and Mass Media Mangala Samaraweera for this year.

The government has received the cabinet approval for an estimated 4.55 trillion rupees (approximately US$ 25 billion) as expenditure for its services for the financial year of 2019) while the state revenues for 2019 is expected to be Rs. 2.39 trillion.

The Appropriation Bill has allocated Rs. 2.2 trillion (US$ 12 billion) for debt servicing, the largest in the history of the country, according to the Finance Minister.

The Appropriation Bill will be gazetted within the next two weeks and will be presented to Parliament after gazetting.

The Complete budget will be presented to the Parliament on 5th March 2019.The third reading of the budget will commence on the 13th of March and the final vote on the budget will take place on 4th April. (Colombo Gazette)

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