On Sri Lanka’s 2019 Budget!

The Sri Lankan Finance Minister

The Sri Lanka’s budget for 2019 to be presented today in the parliament is expected to contain several populist measures with an eye on elections this year is aimed at empowering the people and nurturing the poor apart from catering to the basic educational, health and livelihood requirements of the population.

Although the 2019 Budget was due to be presented in October last year, it was unexpectedly delayed due to the political turmoil and instability which occurred in the country. According to estimates in the Appropriation Bill presented in Parliament the total Government income for 2019 is evaluated at Rs 2,400 billion, while expenditure for the year is calculated as Rs 4,550 billion and a large slice of government expenditure will go for debt servicing.

Unfortunately, this like the previous budgets will not bring the expected development of the economy as country lacks a national economic development policy and many reforms are needed to achieve the targets. When policies are not kept stable, that keep changing with change of governments. What is needed is a stable long term economic policy for the country from the politicians to be implemented by a corruption free administration.

People must understand that due to mismanagement the country has incurred a heavy loan debts and settlement of the same is the duty of the government and there is an urgency for a mindset change from the people who always expect handouts at each budget.

For further views on the subject “Only a Proper National Economic Policy could fill the Sri Lankan Coffers!” do visit Northern Breeze @ https://northernbreeze.blog/2018/10/06/only-a-proper-national-economic-policy-could-fill-sri-lankans-coffers/