May 20, 2024
1 min read

Lanka to Present Economic Boost Bills to Parliament

In 2022, Sri Lanka’s public debt ratio stood at 128 per cent, a figure slated to be reduced to less than 95 per cent by 2032, said Semasinghe…reports Asian Lite News

The Sri Lankan government will introduce two significant bills aimed at bolstering the country’s economy to Parliament on Wednesday, a Minister said.

The “Economic Transformation Bill” and the “Public Financial Management Bill” are designed to enhance public finance management and safeguard against future economic downturns, State Minister of Finance Shehan Semasinghe told a press conference on Monday.

Semasinghe said it is necessary to maintain optimal levels of public financial management to avert future economic crises, and the bills are aligned with recommendations from a collaborative program with the International Monetary Fund, Xinhua news agency reported.

He added that the legislation encompasses reforms essential for international trade, trade agreements, and climate change mitigation efforts.

In 2022, Sri Lanka’s public debt ratio stood at 128 per cent, a figure slated to be reduced to less than 95 per cent by 2032, said Semasinghe.

Similarly, the fiscal requirement, which was 34.6 per cent of GDP in 2022, aims to be lowered to below 13 per cent by 2032, according to the Minister.

ALSO READ-India’s PhonePe Debuts in Lanka

Previous Story

Sunak Apologizes for Infected Blood Scandal

Next Story

Former US Officials from Trump Era Visit Israel

Latest from -Top News

Hasina Accuses Yunus Govt of Aiding Terrorism

Speaking to Awami League supporters online from India on Monday, she Hasina, “I will return, and the killers will be brought to justice in Bangladesh….reports Asian Lite News The ousted Prime Minister

Bangladesh Seeks Fresh Talks on Ganges Treaty

Even though India continues to bat for the normalisation of relations between the two neighbouring countries, the current regime in Dhaka has faced massive criticism for making groundless accusations…reports Asian Lite News

Uniting Global Artistry In Dubai’s Heart

Art events are no more about showcasing art, it is about connecting and collaborating, and bringing artists and collectors n an engaging manner … A special report by Soniya Kirpalani, Photographs/ Video:

India-Philippines Bond Shines in Cebu

India and the Philippines have collaborated on sustaining and consolidating their cultural relations since the establishment of diplomatic relations…reports Asian Lite News To mark 75 years of diplomatic ties between India and
Go toTop

Don't Miss

‘Sword of Damocles’ hangs over global economy’

The index that measures changes in the international prices of

Lankan PM discusses economic situation with IMF chief

The prime minister’s office said the IMF managing director pledged