The 2025 Budget proposal will be presented to Parliament on January 9, 2025, as confirmed by Cabinet Spokesman and Minister Dr. Nalinda Jayatissa during the Cabinet press briefing held today (November 26).
Dr. Jayatissa outlined the parliamentary schedule for the budget process:
- Second Reading: February 17, 2025.
- Third Reading Debate: February 27 to March 21, 2025.
He emphasized that the new government aims to design the 2025 Budget to restore public confidence, lay the foundation for desired development, and meet public expectations.
Cabinet Approval for Budget Preparation
The Cabinet of Ministers has approved a proposal by President Anura Kumara Dissanayake, in his capacity as the Minister of Finance, Planning, and Economic Development, to formulate the 2025 Budget in alignment with the Public Finance Management Act, No. 44 of 2024, and the Government Policy Statement. The budget will enable ministries to implement projects and programs within approved expenditure limits.
Interim Vote on Account for 2025
Recognizing the limited time available to complete statutory steps for passing the 2025 Appropriation Bill, the Cabinet also approved an Interim Vote on Account for the first four months of 2025. This interim measure will cover:
- Government recurrent and capital expenditure.
- Public debt servicing.
- Debt restructuring expenses.
Under Section 23(1) of the Public Finance Management Act, No. 44 of 2024, the interim allocation ensures continuity of public services and ongoing projects.
The parliamentary debate on the Interim Vote on Account is scheduled for December 5 and 6, 2024, according to Dr. Jayatissa.
