Cabinet nod to present Interim Budget for first four months of 2025

Wednesday, 27 November 2024 00:08 - - {{hitsCtrl.values.hits}}

The Cabinet of Ministers on Monday approved the formulation of an Interim Budget to cover the Government’s expenses during the first four months of 2025.

It will focus on relevant expenses for Government recurrent and capital expenses, public debt servicing, and loan restructuring.

The move comes as the new Parliament which convened on 21 November lacked sufficient time to complete the constitutional steps required for passing the full Appropriation Bill for 2025.

Therefore, as stipulated in sub-section 23(1) of the Public Finance Management Act No 44 of 2024, an interim Budget should be submitted to Parliament to allocate provisions for the continuation of currently implemented projects and public services for the first 4 months of 2025.

The proposal to this effect presented by the President Anura Kumara Dissanayake in his capacity as Finance, Planning and Economic Development Minister was approved by the Cabinet of Ministers.