Government adjusts procurement cycles to utilize planned Rs. 2,000 billion capital expenditure
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The government has adjusted procurement cycles for development projects to fully utilize the planned Rs. 2,000 billion capital expenditure next year, Cabinet Spokesman Nalinda Jayatissa said.
Ministries have been instructed to prepare plans, estimates, and procurement activities before the budget is passed on December 14, allowing contracts to be awarded starting in early January.
Finance Ministry officials said the government spent less than 25 percent of the allocated Rs. 1,340 billion in the first nine months of the year.
Jayatissa said technical delays in tenders and procurement make full spending unlikely this year, following a long-standing pattern of underutilizing capital budgets.
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Sri Lanka hopes to fully utilize Rs.2,000bn capital spending next year
How the story developed
- EසිதPresident Dissanayake reviewed the final budget draft, citing financial discipline despite recent disaster and crisis challenges.
- EPresident Dissanayake prepared to present the budget while highlighting rising indirect tax revenue trends.
- EසිதPresident Dissanayake set the total 2027 expenditure at 4,992.77 billion rupees for the upcoming budget.
- සිThe government shifted its policy focus from economic stabilization toward growth for the 2027 budget.
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