GDP growth seen at 6% in 2018, Finance Ministry says
View(s):All budget proposals from ministries for next year should accompany the output targets with KPI (Key Performance Indicators) to comply with the performance budget, the Finance Ministry said on Tuesday.
Minister of Finance and Mass Media Mr. Mangala Samaraweera is due to present the 2018 Budget in Parliament in November, his first since assuming office.
Treasury Secretary Dr. R.H.S Samaratunga said in an announcement on the Treasury website that as Budget 2018 will be prepared on the ‘performance basis’, all the proposals by the line ministries, provincial ministries and the heads of departments should clearly indicate the details of the output of such projects accompanied with the KPI.
Priority would be given for ongoing and foreign funded projects where KPI based measurable outcomes are identified for each project. Further, the Finance Minister has said that capital expenditure projects that have been earmarked for implementation by the National Planning Department for each ministry would also be given priority provided the plans of such projects carry KPIs.
In 2018, major macroeconomic assumptions include real GDP growth of 6 per cent, inflation to stabilize at five per cent and overall budget deficit to contain at 4.3 per cent of GDP.