President instructs Treasury to provide provisions only for essential public expenditure

Thursday, 9 February 2023 01:59 - - {{hitsCtrl.values.hits}}

President Ranil Wickremesinghe as Finance, Economic Stabilisation and National Policy Minister, yesterday instructed the Treasury Secretary to only provide provisions for essential Government expenses in order to maintain public services until the State revenue situation improves.

The list of expenditure to be funded include salaries, debt servicing, pensions, medical supplies for hospitals, subsidies for low-income groups, scholarships, farmers’ pensions, school nutrition programs, payments for war heroes and disabled soldiers, utility payments, food supplies for hospitals and prisons, among others.

The President’ Media Office in a statement said this move is expected to have a significant impact on the economy, as it will prioritise the most important needs of the people and prevent funds from being misused.

The Treasury has stressed the importance of sticking to the list of essential expenditure, as releasing funds for any other purpose could negatively impact the people and slow down the country's economic recovery.

“The decision to only provide funds for essential expenditure is being widely welcomed as a step in the right direction, and is expected to play a crucial role in restoring stability and growth to the nation’s economy,” added the statement from the President’s Media.

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