ACCA Sri Lanka presents Budget proposals for 2025 to Deputy Minister of Finance

ACCA Sri Lanka Chairman Chaaminda Kumarasiri (left) hands over the proposal for 

2025 National Budget to Deputy Minister of Finance Dr. Harshana Sooriyapperuma

The Association of Chartered Certified Accountants (ACCA) Sri Lanka recently presented its comprehensive set of proposals for the 2025 National Budget to Deputy Minister of Finance Dr. Harshana Sooriyapperuma. 

Titled ‘From Recovery to Sustainability – Crafting Sri Lanka’s Economic Blueprint for 2025,’ the proposals focus on creating sustainable economic growth, enhancing public welfare, and ensuring fiscal responsibility amid Sri Lanka’s current economic challenges.

ACCA National Initiatives Sub-Committee Chair Sashi Jayakody said: “The proposals were crafted through a thorough analysis and collaboration with key industry stakeholders. This in-depth process also involved a careful review of Sri Lanka’s economic priorities. Contributions from experts, ACCA members, and past Chairs were integrated to ensure the proposals align with the core principles of good governance, transparency, and fairness.”

The proposals outlined by ACCA focus on 10 key priorities designed to address both immediate economic challenges and long-term structural issues. These priorities include establishing a Budget Monitoring Unit, implementing comprehensive tax reforms, and developing a fair and transparent procurement process for the Government. Additionally, the proposals emphasise accelerating digital transformation, increasing investments in research and development institutions, and improving the quality of education. Other key recommendations include revamping support for SMEs, rationalising expenditure, enhancing foreign investment, and streamlining government institutions that support entrepreneurs. These measures aim to foster sustainable growth, enhance efficiency, and promote a more resilient economy.

ACCA Chairman Chaaminda Kumarasiri said: “We believe these recommendations address immediate economic challenges while paving the way for sustainable growth. With a focus on transparency, efficiency, innovation, and fostering a greener Sri Lanka through sustainable business practices, ACCA stands ready to collaborate with the Government in implementing the proposals. Leveraging our global expertise, we are dedicated to turning these proposals into actionable outcomes.”

Dr. Sooriyapperuma acknowledged the significance of ACCA’s contribution, highlighting the role of such collaborations in shaping a resilient and inclusive economic future for Sri Lanka. He emphasised the importance of professional input in crafting policies that ensure long-term prosperity for all.

ACCA Head of South Asia Nilusha Ranasinghe said: “ACCA has been engaging with key stakeholders in contributing towards national initiatives, while producing world-class professional accountants. This budget proposal is yet another initiative in reinforcing the importance of professional collaboration in shaping Sri Lanka’s fiscal policies and in supporting the Government towards building a resilient economy that will serve the needs of all its citizens.”

With its unwavering commitment to fostering sustainable growth, ACCA reiterates its readiness to collaborate with the Government and other stakeholders in turning these proposals into actionable steps. The comprehensive approach put forward by ACCA aims to drive Sri Lanka’s economic recovery, positioning the nation for future resilience, competitiveness, and long-term prosperity.