Top News
Committee on Public Finance Approves Appropriation Bill for 2027
These matters were discussed with officials of the Ministry of Finance, Planning and Economic Development at a recent meeting of the Committee held in Parliament on the 22nd, under the Chairmanship of the Hon. Member of Parliament Dr. Harsha de Silva.
The meeting was attended by the Hon. Deputy Minister Nishantha Jayaweera, Dr. Kaushalya Ariyarathne, and Members of Parliament Ravi Karunanayake, Harshana Rajakaruna, Ajith Agalakada, Nimal Palihena, Attorney-at-Law Chithral Fernando, Wijesiri Basnayake, Thilina Samarakoon and Attorney-at-Law Lakmali Hemachandra, among others.
During the meeting, officials presented details of the estimated government expenditure for 2027, allocations for capital expenditure, public revenue targets and debt servicing. The Committee also considered the macroeconomic forecasts used in preparing the budget estimates and the legal framework governing public financial management.
The Committee also examined the allocations for infrastructure projects included in the estimated capital expenditure for 2027. These projects include road development, improvements to healthcare and education facilities, expansion of the electricity system and urban development.
Matters relating to financial assistance for small and medium-sized enterprises, credit guarantee schemes and support for the business sector were also discussed. The Committee further focused on allocations for public sector salaries and pensions, as well as expenditure required to meet public service needs.
In addition, Ministry officials explained the foreign debt servicing requirements for 2027, expected foreign financing and public debt management. The Committee also discussed measures to achieve public revenue targets, improve the efficiency of tax administration and ensure the proper utilization of budgetary allocations.
