Cabinet approves gazetting of debt ceiling bill for 2023

The Cabinet of Ministers at its meeting on Monday approved the final draft of the debt ceiling for 2023 to be published in the Government gazette and presented to Parliament.

The proposal to this effect submitted by President Ranil Wickremesinghe in his capacity as the Finance, Economic Stabilisation and National Policies Minister was approved by the Cabinet of Ministers at its meeting on Monday.

On 28 June the Cabinet of Ministers approved revising the loan limitation approved for the year 2023. 

Accordingly, the Legal Draftsman has formulated a draft bill to amend the appropriation act No. 43 of 2022 and the clearance of the Attorney General has been granted for the purpose.

The revision of the loan limitation for the year 2023 is an important step towards ensuring that the Government has the necessary funds to carry out its activities and meet its obligations. 

However, the Cabinet Co-Spokesman avoided providing the figure when inquired by the journalist at the post-Cabinet meeting media briefing yesterday.