Finance Minister Basil Rajapaksa presented the Appropriation Bill for the 2022 Financial Year to parliament on the 7th of October, 2021. While the new bill has increased allocation to education, and finance sectors, the lion’s portion of the budgetary allocation went to defense.
The total expenditure of FY 22, including recurrent and capital expenses, has decreased by LKR 33 billion to record a new value of LKR 2503.3 billion (LKR 2.5 trillion).
The Defense Ministry saw an LKR 18 billion in its budgetary allocation compared to the previous year. The new budget was LKR 373.1 billion. Public services, provincial councils, and local government ministries followed suit with LKR 286.7 billion.
The education allocation was LKR 185.9 billion, an LKR 28 billion increase. The Health Ministry’s funding for FY22 had decreased by LKR 6 billion, with the new value recording at LKR 153.5 billion. The bill also highlighted the decrease in the president’s expenditure, allocating only LKR 2.78 billion, an LKR 6.6 billion decrease.
Debate on the 2022 Budget will occur from the 12th of November, 2021, through the 10th of December, 2021.
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