Budget of 2017 aims for strong economic foundation

untitled-6Sri Lanka’s 2017 budget is aiming to lay a strong foundation for growth and lower poverty, Finance Minister Ravi Karunanayake said, according to Economy Next.

“It may be a difficult journey but it will lay the base for a better future,” Karunanayake told Parliament in the 2017 budget speech.

He said public private partnerships will be forged and private sector will be allowed to grow instead of engaging in excessive state intervention.

Sri Lanka’s state enterprises were also in a weak state and was eating into tax collections, Karunanayake said.

The country aims to boost trade and exports, giving higher incomes.

Eliminating exists pockets of poverty and raising incomes of rural and estate population would be a key focus on the Government.

The Government is also planning to eliminate the development gap between former war torn areas and the rest of the country by 2020, Karunanayake said.

 

Full budget speech:

[gview file=”https://colombogazette.com/wp-content/uploads/2016/11/Budget-Speech-2017-English.pdf” height=”350px” width=”350px” save=”0″]

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