AKD releases statutory Pre-Election Budgetary Position Report

Monday, 21 October 2024 03:08 - - {{hitsCtrl.values.hits}}

President Anura Kumara Dissanayake

President Anura Kumara Dissanayake has last week issued the statutory Pre-Election Budgetary Position Report in his capacity as the Finance Minister.

The report is issued in terms of Section 52 of the Public Financial Management Act, No. 44 of 2024, which requires the Secretary to the Treasury to present to the public, within three weeks of the publication of proclamation or Order requiring the holding of a general election for the election of members of Parliament, a Pre-election Budgetary Position Report containing information on the fiscal position of the country.

The 36-page report reflects the best professional judgment of the officers of the Finance, Economic Development, Policy Formulation, Planning and Tourism Ministry.

It takes into account all economic and fiscal information available to the Ministry and incorporates the fiscal implications of Government decisions and circumstances disclosed to Treasury Secretary Mahinda Siriwardena by the Minister in terms of section 52(8) of the Act.

The report contains provisional figures of government revenue, expenditure, and borrowings based on legal arrangements pertaining to the collection of revenue and commitments for public expenditure.

The key macroeconomic developments in the first eight months of 2024 are also provided to facilitate understanding of the overall economic situation within which fiscal operations have been conducted.

This report also refers to the basis of information on economic and other assumptions used in the preparation of estimates, risks, and other such information that may have a material effect on the fiscal performance, so as to reflect the financial position of the country.