News

2020 expenditure over Rs. 3 trillion

By Skandha Gunasekara

The estimated government expenditure for 2020 is Rs. 3,085 billion, the details of which would be revealed in one of the two Appropriation Bills the Government is expected to present next month.

State Minister of Development of Samurdhi Home Economy, Microfinance, Selfemployment and Businesses, and Underutilised State Resources Shehan Semasinghe said the expenditures included the Yahapalana Government’s debt servicing for 2019.

“This includes debt from 2019 which the Yahapalana Government didn’t settle. It also includes interests and loan instalments which in itself amount to about Rs. 2,000 billion,” State Minister Semasinghe told The Sunday Morning.

He added that expected revenue was Rs. 1,525 billion. Minister Semasinghe said that two budgets would be presented to Parliament next month, one for the year 2020 and the other for 2021.

“The 2020 Appropriation Bill will not be debated or voted on. We are presenting it only to be transparent with the decisions taken by our Government. The 2021 Bill will be debated and voted on as usual.”

He went on to say that the ministries were still finalising the expenses and other details for the 2021 Appropriation Bill. “The ministries are still in the process of making the necessary calculations.”