The budget for next year (2021) will be presented to Parliament on November 17, Secretary to the Finance Ministry S. R. Attygalle said at a media briefing held at the Finance Ministry yesterday.
It is noteworthy that this year the government revenues and expenditure were managed without presenting a budget in parliament. However, the government presented several vote-on-accounts to obtain parliamentary approval for expenditure.
Mr. Attygalle said he expects the budget deficit to be 9% of GDP this year, but hopes to stabilize the budget deficit at 4.5% of GDP next year despite whatever challenges.
Prime Minister Mahinda Rajapaksa as the Minister of Finance, will present the Appropriation Bill to Parliament.
The government will present the budget based on President Gotabhaya Rajapaksa’s ‘Vistas of Prosperity’ Policy Statement targeting people centric development, economic development and welfare for the people. In addition the government will put forward proposals in the budget to revitalize the collapsed businesses and business sector, the Finance Secretary said.