Oct 18, Colombo: Amid the economic crisis resulting from the depreciation of rupee against the dollar and rising oil prices, the Sri Lankan government has decided to limit the expenditure of all ministries.
Proposals need to limit the expenses of the ministries will be submitted in the next year's budget, the Secretary to the Ministry of Finance and Mass Media, Dr. RHS Samaratunga said.
Speaking at a conference in Colombo today, the Secretary to the Finance Ministry said this step will be taken under the regulation of public expenditure and debt management.
He said that despite low economic growth, inflation and unemployment in the country remains at a favorable level.
The Secretary said the government has implemented various programs to encourage investments and several plans to increase state revenues will be implemented in the future.
The Secretary further stated that during the last three years money allocated for education, health and welfare has been increased and those provisions will be continued uninterruptedly.