Sri Lanka’s Ministry of Finance says preparations for the 2027 Budget have begun, with proposals aimed at achieving an economic growth target of more than 7 percent, NewsFirst reported.
The ministry said projects under the State Investment Programme will be implemented next year according to priority and public interest, and that the process of obtaining budget proposals from each ministry is now in its final stage. A review of this year’s progress across government institutions, together with discussions on project proposals for 2027, will be held under the patronage of the President.
The ministry pointed to improving revenue performance, saying the Inland Revenue Department, Sri Lanka Customs and the Excise Department all exceeded their targets over the past year. It said economic stability had been restored and financial discipline strengthened across state institutions, while several state-owned enterprises had met their revenue targets and returned to profit.
Priority in the 2027 Budget will be given to encouraging foreign investment, accelerating infrastructure development and strengthening programmes to improve the livelihoods of low-income communities, according to the ministry.
The growth target is ambitious against Sri Lanka’s recent trajectory as it continues to recover from the 2022 economic crisis under an International Monetary Fund-backed programme. The budget is expected to be presented to Parliament later in the year, following the standard cycle of ministry submissions, Cabinet review and a second-reading debate.
