Committee on Public Finance approves Appropriation Bill for 2027
The Budget estimates, relating to the Appropriation Bill for 2027, the management of public revenue and expenditure, and priority development projects, were discussed and approved recently at the Committee on Public Finance in Parliament. These matters were discussed with officials of the Ministry of Finance, Planning and Economic Development at a recent meeting of the […]
The Committee on Public Finance in Parliament recently approved the Appropriation Bill for 2027, discussing budget estimates, public revenue and expenditure management, and priority projects. The meeting, chaired by Dr. Harsha de Silva, included officials from the Ministry of Finance, Planning, and Economic Development, alongside various MPs and legal representatives.
Officials presented details on estimated government spending for 2027, capital expenditure allocations, public revenue targets, and debt servicing requirements.
During the discussion, the Committee reviewed macroeconomic forecasts, legal frameworks for public financial management, and infrastructure projects such as road development, healthcare and education improvements, electricity system expansion, and urban development. The Committee also examined financial assistance for SMEs, credit guarantee schemes, and support for the business sector. Matters concerning public sector salaries and pensions, as well as expenditures to meet public service needs, were also addressed.
Ministry officials detailed foreign debt servicing needs for 2027, anticipated foreign financing, and public debt management strategies. The Committee further discussed measures to meet public revenue targets, enhance tax administration efficiency, and ensure proper utilization of budgetary allocations.
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