Budget 2022 presentation set for November 12

The budget for 2022 is scheduled to be presented in Parliament on November 12 and the final vote on budget is set on December 10.

Prime Minister Mahinda Rajapaska on Monday informed the Cabinet of Ministers on the arrangements made to conduct the budget debate programme for the financial year 2022. Accordingly, Finance Minister Basil Rajapaksa is set to present the 2022 budget on November 12 and the budget debate would be opened on the same day and is to be continued until November 22. 

According to the draft Appropriation Bill, Rs.2.5 trillion expenditure is proposed for ministries and departments, with the highest allocation being set for the Defence Ministry. 

Amidst the worsening fiscal deficit and concerns on the debt sustainability, the government is expected to propose austerity measures cutting expenditure for the state sector and restructuring social welfare programmes.

The Committee Stage debate is set to be opened on November 23 and would continue until December 10. As the end of the budget process, the third reading of the Appropriation Bill would be held at 5:00 p.m. on December 10, according to the Government Information Department.