Cabinet approval to prepare budget 2019 | Daily News

Cabinet approval to prepare budget 2019

The government appropriation bill for 2019 which is currently in the process of being prepared received Cabinet approval for the below objectives.
Approval was granted to increase government revenue over 17 percent of GDP, restrict government recurrent expenditure to 15 percent of GDP, to maintain government investments to 5.5 percent of GDP, to bring down the budget deficit to 3.5 percent of GDP and to maintain outstanding government debt below 70 percent of GDP.
Though the Appropriation bill was to be presented to Parliament on November 5, it was delayed by two months due to the Constitutional crisis in the country. As a result the government only managed to pass an interim budget on 21 December which would cover the first four months of the year. This however would also be included in the final Budget to be presented soon.  

 


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