SL, Viet Nam to sign agreement on public finance management

Sri Lanka is to ink an agreement on public finance management with Viet Nam during President Truong Tan Sang’s three-day visit, the Government Spokesman said yesterday.

On a proposal made by the President in his capacity as the Minister of Finance and Planning, Cabinet has approved the signing of a Memorandum of Understanding (MOU) with Viet Nam to promote and strengthen cooperation in the areas of public finance management.

Under the proposed MoU, the two parties have agreed to share experience on budget management, budget policy including revenue and expenditure and management of investment capital for infrastructure from state budget, Government Spokesman Minister Keheliya Rambukwella told media.

This agreement is expected to enhance the activities on international finance cooperation and other areas as mutually agreed by both parties.