Sri Lanka’s 2023 budget provides major allocations for defence, pensions and debt servicing

ECONOMYNEXT – Sri Lanka is due to present an Appropriation Bill to parliament detailing allocations to ministries and departments as a first step in presenting a budget for 2023 next month.

The Appropriation Bill to be tabled in Parliament has allocated Rs 613 billion to the Ministry of Finance including debt servicing charges.

The Ministry of Defense received 410 billion rupees, the army receiving 209 billion rupees, the navy 75 billion rupees and the air force 66 billion rupees and a multitasking force launched by President Gotabaya Rajapaksa receiving 9.8 billion rupees.

The Ministry of Public Security was allocated 129 billion rupees of which 116 billion for the police. The police and the army received 539 billion rupees.

The Ministry of Health has been allocated 322 billion rupees.

The Ministry of Education has been allocated 232 billion rupees.

It is unclear whether the funds include funds for provincial education and health.

The Ministry of Public Administration was allocated 856 billion rupees of which 353 billion went to pensions.

The ministry also manages provincial councils.

The Ministry of Transport received 372 billion rupees. (Colombo/October 18, 2022)

James V. Hayes