tate Minister of Finance, Ranjith Siyambalapitiya said yesterday the 2024 budget to be presented to parliament today aims to foster long-term growth for the country while addressing the
State Minister of Finance, Ranjith Siyambalapitiya |
immediate challenges currently faced by the people.
The Minister stated this while speaking to the media yesterday afternoon at the Finance Ministry premises regarding the budget to be presented today.
The minister emphasised that budget 2024 has been prepared with a focus on long-term stability rather than seeking short-term popularity or election-related objectives.
He said the budget aligns with the President’s commitment to ensuring sustained stability and preventing a recurrence of economic downturns experienced in the past.
He mentioned that since the country has not met its loan obligations and is part of an IMF programme, it cannot freely address the budget deficit but must follow specific guidelines.
He mentioned that the 2024 budget has been developed taking this into consideration, aiming to minimise the budget gap and placing emphasis on managing the country’s foreign and domestic debt.
However, the minister emphasised that the government is helping those in need, specially the poor.
He also said the country has made good progress with regard to the restructuring of its foreign debt.
