President Dissanayake announces tax cuts in upcoming budget while maintaining state revenue targets
Summarised by AI from 6 articles
Speaking at a conference in Colombo on 31 October 2026, President Anura Kumara Dissanayake announced that the government will reduce certain taxes in the upcoming budget without compromising national revenue targets.
Dissanayake stated that 2025 state revenues reached 110 percent of targets without new taxes, alongside a primary budget surplus. He added that public debt, which peaked at 114 percent of GDP, would fall to between 90 and 95 percent.
Acknowledging that inflation rose above 8 percent due to Middle East conflicts and supply disruptions, he said the government allocated 60 billion rupees to subsidise fuel and shield the public from surging global energy prices.
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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.
