PM to present 2010 Budget in parliament as SL President leaves for Ukraine

[TamilNet, Monday, 28 June 2010, 10:00 GMT]
Sri Lanka Prime Minister D. M. Jayaratne is to present the 2010 Budget in parliament Tuesday as President Mahinda Rajapakse departs to Ukraine the same day accompanied by the External Affairs Minister G. L. Peiris. President Mahinda Rajapakse also holds the portfolio of the Finance Ministry. Earlier it was announced Mahinda Rajapakse would table the budget in the capacity of Finance Minister.

Meanwhile, diplomatic sources said Minister Peiris who is authorized to respond to the letter sent by the European Union (EU) laying fifteen conditions to extend the GSP+ trade concession is due to fly to Ukraine with Rajapakse just two days before the deadline of the EU expires on June 30.

Finance Ministry sources said the budget gap is expected to be narrowed with the recent increases in taxes and levies as well as through foreign and domestic borrowing.

The total targeted revenue of around Rs. 830.8 billion for 2010 is insufficient to meet expenditure running at over Rs. 1.78 trillion, finance ministry sources said

Chronology: