7 December 2024 12:00 am Views - 35
By Yohan Perera and Ajith Siriwardana
Parliament passed the resolution on the vote on account for the first quarter of next year passed without a vote yesterday.
The resolution facilitates the uninterrupted continuation of government operations and debt servicing for the first quarter of 2025. It was presented to Parliament on Dec. 3. The debate on the resolution was conducted for two days. Parliament’s approval was given to spend a total of approximately Rs. 1,400 billion.
It was revealed that the cabinet has approved a proposal to submit a supplementary estimate of 219.4 billion rupees (750 million U.S. dollars) to parliament to cover essential expenses for the remainder of 2024. This was confirmed by Minister Vijitha Herath during the debate last evening.
The 2025 budget proposal is scheduled to be presented to Parliament on Jan. 9, 2025, with the second reading on Feb. 17. “The budget which will be presented in January will contain the government’s long term programme to revive the nation’s economy,” he said.
Also he highlighted that the debt sustainability programme will have to continue as it is as there is no time to amend it at this juncture.