September 23, 2019
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    Government focuses on a Medium Term Budgetary Framework

    September 24, 2014

    The General Treasury has conducted Budget discussions with Ministries, Provincial Councils and other stakeholders and accordingly budgetary provisions have been made taking into consideration of the total resources available in the medium term 2015-2017, giving priority for timely completion of ongoing development activities and new development projects identified for implementation during the medium term, based on the priorities identified during the above discussions.

     

    Within the medium term 2015-2017, the total estimated revenue of the Government for, 2015 is Rs.1,713 billion and total Government expenditure for 2015 is estimated to be Rs.3,053 billion.

     

    For this year the government targets a 7.8 percent economic growth and 5.2 percent of GDP budget deficit while expecting the inflation to remain in single digits at 6.0 percent.


    The expected fiscal targets to be achieved in 2015 under the medium term 20 15-20 17 are as follows:

                                                                   2014      2015    2016     2017
    * Public Investment (% of GDP)                  6.0         6.5        6.5         6.5
    * Budget Deficit (% of GDP)                        5.2         4.4        3.6         3.0
    * Total Public Debt (% of GDP)                  75.0        71.0     68.0       65.0
    * Economic Growth Rate                             7.8         8.2        8.3         8.4
    * Inflation                                                    6.0         5.5       5.0          5.0

    Last modified on Wednesday, 24 September 2014 15:15

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