Sri Lanka parliament passes ambitious interim budget ahead of presidential election

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The Sri Lankan parliament on Wednesday passed an ambitious interim budget weeks before a presidential election, with 1.47 trillion rupees (US$8.11 ...

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COLOMBO: The Sri Lankan parliament on Wednesday passed an ambitious interim budget weeks before a presidential election, with 1.47 trillion rupees in spending for the first four months of 2020.

Both, however, have yet to release their policy framework with the election scheduled for Nov 16. The winner will serve until 2024. Finance Minister Mangala Samaraweera said in his presentation of the interim budget that Sri Lanka could still see 3 per cent economic growth in 2019 despite challenges including subdued growth following the Easter Sunday bombing attacks by Islamist militants in April, which killed more than 250 people and hurt the important tourism industry.The US$87 billion economy's growth eased to a 17-year low of 3.2 per cent in 2018 and the International Monetary Fund expects the pace to slow to 2.

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