Even though the salaries of some 1,225,000 government sector employees would be increased through the budget to be introduced by the new government, room would not be allowed for any increase in the budget deficit, said Finance Minister Ravi Karunanayake.

He added that he has received strong advice from Prime Minister Ranil Wickremesinghe on this issue and that the incumbent government is committed to further reducing the budget deficit.

Plans are in place to replace the lost revenue for the Treasury from the reduction of fuel prices, salary hikes, providing concessions etc and these would be revealed on 29 January, said Minister Karunanayake.

While reiterating that burdens would not be thrust on the people, Ravi Karunanayake said that they were committed towards eradicating corruption and wastage.

“We took over a bankrupt economy,” he remarked.