Budget 2018 – Appropriations Bill to be tabled in Parliament

Budget 2018 – Appropriations Bill to be tabled in Parliament

Written by Lahiru Fernando

08 Oct, 2017 | 10:15 pm

The 2018 Appropriations Bill carries an estimate of the state’s expenditure and revenue for the coming year.

It is set to be tabled in Parliament tomorrow, October 9) by State Minister of Finance Eran Wickremaratne.

Meanwhile,  a special sitting of Parliament is also to be held tomorrow to adopt amendments to local government ordinances.

Budget preface

Rs. 3,982 Billion – Such is the state’s estimated expenditure for 2018, according to the 2018 Appropriations Bill draft presented to Cabinet by Mangala Samaraweera – the Minister of Finance and Mass Media.

Rs. 2,175 billion – Statement issued by the Finance Ministry says that this is the estimated state revenue for the year.

Let us not forget our debts now.

  • Total debt repayments to be made – Rs. 9,702.8 trillion (at the end of first quarter 2017)
  • Total interest – Just over Rs. 680 Billion
  • Total interest payable on external debt – Rs.123 billion
  • Total interest on domestic debt – Rs. 556 billion

*Source: Central Bank reports

The second reading of the Appropriations Bill, also known as the budget speech, will take place in parliament on November 9, 2017

Public views and proposals on the 2018 budget will be considered until the October 18, 2017 – said the Ministry of Finance.

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