Long term economic development | Daily News

Long term economic development

“The specialty of this budget is that it lays the ground for long term economic development. We must go for new industrial economy and increase our export income. The budget aims that as well,” Former Central Bank Director, Economist Vincent Mervin Fernando said.

“We cannot even manage the recurrent expenditure of our country. We were at a dilemma as to where the funds would be for development projects because we cannot pay even for our salaries," he said.

"The Budget 2018 aims more to decrease the recurrent expenditure than it does to reduce the government revenue.

The government revenue is Rs. 2326 billion and the recurrent expenditure is Rs. 1250 billion. This means we can now pay for our recurrent expenditure with our revenue. This itself is a great achievement. This happened in 2017,” he said.


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