President Dissanayake presents Sri Lanka's Rs. 4.99 trillion 2027 Budget to Parliament
Summarised by AI from 44 articles
On 12 November, President Anura Kumara Dissanayake presented the National People's Power government's third budget to Parliament, following Cabinet approval earlier that morning.
The 2027 Budget carries total expenditure of roughly Rs. 4.99 trillion and a Rs. 3.8 trillion net borrowing cap. It allocates Rs. 2 trillion for capital spending, representing a 5.1% increase over 2026.
Proposals include an investment relief package, a Rs. 3.5 billion solar battery incentive, abolishing the 10% port levy on imported solar batteries, and reviewing state financing for SriLankan Airlines.
On energy subsidies addressing Middle East conflict pressures, Thamilan reported Rs. 147 billion spent, while Ada Derana reported Rs. 144 billion.
Parliament's Second Reading debate is scheduled from 13 to 20 November. According to Dinamina, the final budget vote is scheduled for 19 December.
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How the story developed
- සිPresident Dissanayake proposed a digital transformation authority, an AI center, and student broadband internet vouchers.
- සිPresident Dissanayake allocated 200 million rupees for a Katunayake Airport flyover to support re-exportation centers.
- தHarsha de Silva criticized the budget for lacking structural change and maintaining previous expenditure levels.
- සිOpposition Leader Sajith Premadasa accused the government of concealing economic data and manipulating budget figures.
