Cabinet approves 2019 appropriation bill

COLOMBO (News 1st) - Cabinet approval has been granted for the 2019 appropriation bill. The Ministry of Finance and Mass Media noted that the estimated government expenditure for this year is Rs. 4770 billion. Thereby the budget deficit for the year will be 4.8% of the GDP. Further, the government income for the year is due to increase to 15% of the GDP. The sum allocated for repayment of debt for the year is Rs. 2200 billion. The Finance Ministry also highlighted that this will be the highest allocation for annual debt repayment in the history of the economy of Sri Lanka. The finance ministry added that the government's objective is to increase the income to 15% as a percentage of GDP in 2019. The appropriation bill for the year 2019 is due to be presented in parliament on the 5th of February. The Minister of Finance and Mass Media will also submit the budgetary proposals on the same day.