Interim Vote on Account in December, 2025 Budget in February – President
November 21, 2024 01:35 pm
Delivering the government’s policy statement in Parliament, President Anura Kumara Dissanayake today revealed key economic strategies aimed at driving development and fostering growth in Sri Lanka.
He announced that the 2025 Budget will be presented to Parliament in February 2025, with an interim Vote on Account scheduled in the beginning of December 2024.
A significant focus of the President’s address was on measures to expand the Information Technology (IT) sector, which he identified as a cornerstone of the country’s economic transformation.
Highlighting the sector’s potential, he stated that the current IT workforce of 85,000 will be expanded to 200,000 within five years. This initiative, the President noted, is aimed at boosting IT-related export revenue from the current USD 1.5 billion to USD 5 billion annually.
“We are prioritizing education and language development to achieve this target. This will be a significant leap for the country’s economy,” the President emphasized.
In addition to the IT sector, the President outlined plans for the tourism industry, aiming to attract 4 million tourist arrivals annually and generate USD 8 billion in revenue within three to four years.
In his policy statement, President Dissanayake further emphasized the government’s commitment to removing market monopolies and fostering greater competitiveness in trade across key sectors.
He highlighted the need for establishing regulatory authorities and enacting proper legislation to ensure fair play and transparency in the marketplace.
The President further noted that the government must retain a role in critical areas such as the energy market and the financial market, ensuring oversight and stability while encouraging private sector participation. This balance, he explained, is crucial for sustainable economic growth and protecting public interests.
