Sri Lanka cuts 6% of recurrent expenditure

COLOMBO (News 1st) - Sri Lanka's Cabinet of Ministers have decided to slash 6% of the recurrent expenditure from the government expenditure estimations approved for the year 2023.

It was decided to suspend 5% of the recurrent expenditure in the government expenditure estimations for the year 2023 at the meeting of the Cabinet of Ministers held on 09.01.2023 so that sufficient financial provisions can be ensured for the control of government expenditure within the existing limited financial space as well as the finances for essential and priority activities. 

The Department of Government Information said that the Cabinet of Ministers decided to with hold 6% from the recurrent provisions in approved government expenditure estimations instead of 5% from the recurrent expenditure.

It was also decided to allocate a portion equal to 1% of the aforementioned amount to the Ministry of Health as additional provisions to purchase essential pharmaceutical drugs.