19 billion rupee budget for 2013 approved by Cabinet
The Sri Lankan Cabinet has approved a Rs. 2520 billion (£12bn; $19bn) budget for 2013. The press release from the government information service is as follows:
‘Cabinet approval was granted for the Appropriation Bill for the Financial Year 2013 submitted by the President as Minister of Finance and planning, after publishing it in the Government gazette.
In the preparation of this Bill, the President and the General Treasury had consulted each line Ministry and other Stakeholders, with the view to formulating a realistic budget.
Emphasis has been given for the priorities identified under the Medium Term Expenditure Framework 2013-2015 and for the completion of development activities which have already been commenced and are ongoing.
The estimated Government expenditure for 2013 is Rs. 2520 billion. The economic growth will be maintained at 7% and the annual inflation rate contained at 7%.
The first reading of the Appropriation Bill will take place on October 09 while the Budget proposal (second reading) will be presented in November 08.’