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Leading News from Sri Lanka::

* Sri Lanka parliament passes the budget 2013
Sat, Dec 8, 2012, 08:55 pm SL Time, ColomboPage News Desk, Sri Lanka.

Dec 08, Colombo: Sri Lanka parliament passed the Third Reading of the Appropriation Bill (2013 Budget with amendments today with a majority of 101 votes, when it was taken for vote at the end of the Committee Stage Debate.

When a Division by name of the MPs was taken, 158 voted in favor while 57 were against it. The main opposition United National Party has voted against the Appropriation Bill.

The proceedings of the Budget 2013, which started a month ago, ended today with the final vote. President Mahinda Rajapaksa in his capacity as the Minister of Finance presented the Appropriation Bill to the parliament on November 08.

The Appropriation Bill to authorize the expenditure required during the 2013 financial year presented, forecasts a 13.5 percent increase in spending from this year's estimate of 2.22 trillion rupees to 2.52 trillion rupees for next year.

Deputy Finance Minister Dr. Sarath Amunugama during the debate said the government, despite many challenges, expects to maintain an economic growth of 7.2 percent next year while aiming to reduce the budget deficit to of 5.8 percent with public debt below 75 percent of GDP by slashing unnecessary expenditure.

** Related Story :: Sri Lanka budget aims to elevate country to upper middle income status by 2016



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