President Mahinda Rajapaksa is to authorize additional funds for the maintenance of public services for at least two more months as the Rs. 362 billion that was approved by way of a vote-on-account last November for the first four months of 2010 is almost exhausted, a senior Finance Ministry official said.
He said that after the April 8 General Elections it would take at least two more months for the new government to present a budget
and more money was needed for the maintenance of public services till then.
He said that the government would find it difficult to meet the 2010 budget deficit target of 6% of GDP because one third of the funds approved by Parliament as supplementary estimates during the current financial year had been included in the four-month vote-on-account.
The Constitution provides for the President, who is also the Minister of Finance, to approve an advance of funds without presenting a supplementary estimate to Parliament in some instances including the period when Parliament remains dissolved.
Of the Rs. 362 billion which was passed by way of the vote-on-account for the first four months of 2010, around Rs. 71,460 million went to the Defence Ministry while the office of the President received Rs. 2,300 million.
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