Daily Mirror E-Paper

PM promises a new budget with capital expenditure reductions

ā— Says the government is trying to minimize the impact of shortages ā— He agreed that he would review the criteria for those eligible for welfare

Prime Minister Ranil Wickremesinghe who met yesterday with representatives from the Chambers of Commerce, the Treasury and Economic Advisers, said a new budget would be presented with proposals for the significant reduction of capital expenditure, a statement from his office said.

He said the money saved would be used for welfare programmes.the Prime Minister said that with the war in Ukraine, the country is facing a food shortage due to mismanagement of the local market.

This food shortage will affect not only Sri Lanka but also the global market.

He explained that the government was trying to minimize the impact of the shortages.

Recommendations were made to the Prime Minister that the process of distributing relief to the people should be digitized. He agreed that he would review the criteria for those eligible for welfare.

In addition, the Prime Minister stated that an economic policy framework that enshrines economic rights would be included in the Constitution. He also proposed that the Treasury should plan to undertake structural reforms based on a competitive social market economy that can achieve development goals.

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2022-05-24T07:00:00.0000000Z

2022-05-24T07:00:00.0000000Z

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