State Minister of Finance Eran Wickremaratne presented the Appropriation Bill 2018 in the House today, October 9.
According to reports, the Finance Ministry estimates a total expenditure of Rs. 3,982 billion for 2018. The amount includes Rs.1, 308 billion for recurrent expenditure and Rs. 668 billion for capital expenditure. The Government estimates a revenue of Rs. 2,175 billion from foreign grants while another Rs.1, 813 billion is to be financed through loans obtained from both foreign and domestic sources. The second highest allocation is to the Ministry of Finance and Mass Media. The Recurrent Expenditure is Rs 196,517,853,000 and Capital Expenditure Rs 37,054,235,000. Other higher allocations include:
Finance Minister Mangala Samaraweera is scheduled to present the 2018 Budget speech on 9 November after which the debate on the second reading of the Budget will commence on 10 November and will continue for five days. The committee stage process will commence on 16 November and will continue until 8 December 2017. The third and final Reading Division of Budget 2018 will be made on Saturday, 9 December 2017.