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Budget of new Government to be presented in January

26 Nov, 2024

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The 2025 Budget of the new Government will be presented to Parliament in January, the Government said.

Cabinet Spokesman, Minister Dr. Nalinda Jayatissa said that the budget will be presented to Parliament on 9, January 2025.

Even though the new Parliament was convened on 21-11-2024, there was not sufficient time to follow the steps required by the Constitution regarding the passing of the Appropriation Bill for the year 2025.

Therefore, as stipulated in sub-section 23(1) of the Public Finance Management Act No 44 of 2024, an interim Budget should be submitted to Parliament to allocate provisions for the continuation of currently implemented projects and public services for the first 4 months of 2025.

Accordingly, the Cabinet of Ministers approved a proposal presented by President Anura Kumara Dissanayake in his capacity as Minister of Finance, Planning, and Economic Development, to formulate an interim budget for the first 4 months of 2025, including relevant expenses for Government recurrent and capital expenses, public debt servicing, and loan restructuring. (Colombo Gazette)

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