Oct 09, Colombo: Sri Lanka's Minister of Finance and Mass Media, Mangala Samaraweera presented the Appropriation Bill for the financial year 2019 in parliament today.
As per the Appropriation Bill next year's annual state expenditure will be Rs 4.376 trillion and the budget deficit will be Rs. 644 billion which is 4.1percent of the GDP.
Rs. 2.057 trillion has been allocated for debt servicing in 2019. This is the largest amount of money a government in the history of Sri Lanka is compelled to bear in repaying its borrowings.
Accordingly, the Government expects to borrow Rs. 1.944 trillion from local and foreign sources for its debt servicing including the financing of the budget deficit in 2019.
Minister Mangala Samaraweera is now receiving proposals from the public to include in his 2019 Budget speech titled "Strong economy and Prosperous Nation" which will be presented in the parliament on 05th November, 2018.