Budget 2018 To Be Prepared On Performance Based

The Budget 2018 is to be prepared on performance based budgeting. Under the Macro- Public finance Framework 2018-2020, the government aims to increase public income from 16.5% of GDP in 2020, recurrent expenditure to 14.8% of GDP, public investment to 5.3% of GDP. In addition, it is expected to reduce budget deficit and public debt to 3.5% and 70% of GDP in 2020 respectively.

Accordingly, the proposal made by Mangala Samaraweera, Minister of Finance to prepare Budget 2018 based on performance based budgeting according to mid-term budget framework 2018-2020 and to determine budget limits for line ministries considering priority programmes of the government was approved by the Cabinets of Ministers.

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