Minister of Finance and Mass Media Mangala Samaraweera presented a proposal to the Cabinet of Ministers to prepare the Budget 2018 on Performance based budgeting.
According to the proposal, the Macro – Public Finance Framework for preparation of budget 2018 aims to achieve several targets in 2020 including increasing the public income up to 16.5% of GDP, recurrent expenditure to be 14.8% of the GDP, public investment to be 5.3% of GDP, reducing budget deficit to 3.5% of GDP, and reducing public debt to 70% of GDP.
Accordingly, the proposal made by Minister Samaraweera to prepare budget 2018 on Performance based budgeting according to midterm budget framework 2018-2020 and to determine budget limits for line ministries considering priority programmes of the government, was approved by the Cabinet of Ministers this week.
The UK government has unveiled a package of reforms to simplify imports from developing countries which allows for more garments manufactured in Sri Lanka to enter the UK tariff-free.
A Thai woman walking topless in Arugam Bay town has been arrested by the Police.
Read these and more on tomorrow’s edition of the Sunday Times
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