The nation goals to chop its fiscal deficit to 4% over the medium-term.
Sri Lanka’s Finance Minister Mahinda Rajapaksa mentioned on Tuesday the nation aimed to greater than halve its fiscal deficit over the medium time period, from an anticipated 9% subsequent yr following the novel coronavirus pandemic.
Presenting the 2021 annual Budget, Mr. Rajapaksa, who additionally serves as Prime Minister, mentioned Sri Lanka will purpose to chop its fiscal deficit to 4% over the medium-term, with out specifying an actual time interval, from the 9% foreseen in 2021.
“This is a development budget presented to elevate an economy that has been shattered,” he instructed lawmakers.
Growth was projected at 5.5% for 2021, he added.