Debate on Vote on Account begins in Parliament
December 5, 2024 10:56 am
The Vote on Account for the first four months of the year 2025, including government recurrent and capital expenditure, public debt servicing and debt restructuring expenses has been presented to Parliament today (05).
Minister Anil Jayantha Fernando opened the debate on the Vote on Account by disclosing the following information:
“For the first four months of the Vote on Account, Rs. 1,000 billion excluding recurring expenses, Rs. 425 billion for capital expenditure and Rs. 1,175 billion for foreign debt restructuring and other debt servicing are required,” he stated.
The minister further added “Accordingly, the total estimate is Rs. 2,600 billion. The government’s revenue estimate is Rs. 1,600 billion. The basic borrowing limit is Rs. 1,000 billion.”
Regarding foreign debt restructuring, he stated: “Especially on the basis of an agreement with the bilateral creditors and sovereign bonds, we have to present new debt papers. We aim to complete this process before December 31”.
He further added that if there is any delay of a week or two due to technical issues, the borrowing limit has been increased to Rs. 4,000 billion based on that uncertainty.
