2019 Appropriation Bill presented in Parliament

2018-10-09 at 15:50

The 2019 Appropriation Bill was presented in Parliament this evening by Minister of Finance and Media Mangala Samaraweera.

According to the approved Appropriation Bill, next year’s annual state expenditure will be Rs.4,376 billion while the budget deficit will be Rs.644 billion.

The highest allocations under the Appropriation Bill, has been made for the Ministry of Defence with a total of Rs.306 billion set aside for Defence spending.

Meanwhile, Rs.221 billion has been allocated for the capital and recurrent expenditure of Provincial Councils.

The Ministry of Finance said, capital expenditure of several ministries including, Education, Health, Provincial Council and Local Government, Finance, Fisheries, Agriculture and Megapolis and Western Development have also been increased.

Among government expenditures, Rs.1,456 billion has been allocated for recurrent expenditure of the public sector while Rs.856 billion has been allocated for capital expenditure.

Meanwhile, the government expects to borrow Rs.1,944 billion from local and foreign sources for its debt servicing including the financing of the budget deficit in 2019.

According to the Finance Ministry, the government is expected to spend Rs.1,000 billion for salaries of 1.1 million public servants and 600,000 pensioners and an additional Rs.220 billion has been allocated to provide public welfare such as Samurdhi allowances, school uniforms, free medicine, allowances for the elders, fertilizer subsidy, bag of nutritious food, payment for kidney patients and payments for the differently-abled.

The 2019 Budget, the fourth budget of the consensus government, will be presented in Parliament by Minister Mangala Samaraweera on the 5th of November.

Please follow and like us: