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.
Popular grade five tuition teacher, Hayeshika Fernando wanted over assaulting a 21 year old youth was granted bail today after she surrendered to courts.
First Bishop of the Batticaloa Diocese, Retired Bishop Joseph Ponnaiya, passed away today at the age of 74, following a brief illness.
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