Sri Lanka working towards a revised budget in August The sun sets over the Parliament at Shri Jayewardenepura Source:Economynext ECONOMYNEXT- Sri Lanka has revised spending lines of individual ministries as part of efforts to present a revised budget for the rest of 2022, Cabinet spokesman Minister Bandula Gunewardene said. Sri Lanka is expected to raise taxes and also cut capital spending as part of efforts to reduce the budget deficit and money printing to restore monetary stability under a program with the International Monetary Fund. “The revised data relating to ministries have been completed,” Minister Gunewardene said. ...
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Sri Lanka seeks US$200mn credit lines from Australia, Pakistan: report Source:Economynext ECONOMYNEXT – Sri Lanka is seeking a 200 million US dollar credit line from Australia for lentils and other foods a media report said, soon after reports of 200 million dollars being sought from Pakistan amid forex shortages. Sri Lanka’s The Sunday Times newspaper quoted Trade Minister Bandula Gunewardene as saying that 200 million dollar credit line sought from Australia as well a billion US dollar credit line from India in the works could be used to bring goods for the upcoming New Year season. “The two credit lines will be sufficient for the imports of essentials for about six months,” the newspaper quoted Minister Gunewardene as saying. ...
