July 19, Colombo (LNW): The Ministry of Finance has begun work on the 2027 Budget, which is expected to outline policy measures aimed at driving Sri Lanka’s economy towards a growth rate exceeding seven per cent.
In a statement, the Ministry said the formulation of next year’s Budget is now in its final stages, with proposals from individual ministries currently being reviewed ahead of the drafting process.
It added that public interest and national development priorities will guide the selection and implementation of projects under the State Investment Programme in 2027.
As part of the Budget preparation process, the Government is also scheduled to assess the performance of ministries and state institutions during the current year while evaluating development proposals for the year ahead. These discussions will be held under the patronage of the President.
The Ministry noted that revenue collection has continued to improve, with the Inland Revenue Department, Sri Lanka Customs and the Excise Department all surpassing their revenue targets over the past year. It said these gains have contributed to stronger public finances and reinforced fiscal discipline across the state sector.
The statement further highlighted the improved performance of several state-owned enterprises, noting that a number of them have met their financial targets and returned to profitability, supporting broader efforts to strengthen economic stability.
According to the Ministry, the 2027 Budget will place particular emphasis on attracting greater foreign investment, expanding infrastructure development and implementing programmes aimed at improving the living standards of low-income communities.
These measures are expected to support long-term economic growth while promoting more inclusive and sustainable development.