November 12, Colombo (LNW): The Cabinet of Ministers has approved the proposals contained in the 2027 National Budget, paving the way for President Anura Kumara Dissanayake to present the Government’s financial and economic priorities to Parliament today (12 November).
The President, who also holds the portfolio of Finance, Planning and Economic Development, is expected to use his Budget address to set out the Government’s revenue targets, expenditure plans, fiscal strategy and proposed changes to the tax framework for the coming year.
The Budget debate will begin on 13 November, with the Second Reading scheduled to continue until 20 November. Parliament is due to vote on the Second Reading at 6.00 p.m. on the final day.
The Committee Stage debate on the Appropriation Bill will follow, running from 21 November to 14 December. The final vote on the Third Reading is scheduled for 6.00 p.m. on 14 December, bringing the parliamentary approval process to a conclusion.
The allocation of speaking time between the Government and Opposition will differ according to the stage of the debate. During the Second Reading, Government representatives will receive 60 per cent of the available time, while the Opposition will be allocated the remaining 40 per cent. At the Committee Stage, the arrangement will be reversed, with 60 per cent of the debate time reserved for the Opposition and 40 per cent for the Government.
In preparation for the presentation, President Dissanayake examined the final version of the 2027 Budget proposals at the Presidential Secretariat yesterday (11 November). Dr Harshana Suriyapperuma, Secretary to the Ministry of Finance, Planning and Economic Development, was also present during the review.
According to the President’s Media Division, the Government has recorded progress in several important areas of the economy despite having to contend with a combination of domestic difficulties and international pressures. These include the impact of the Ditwah disaster and continuing instability in the Middle East, which have added further complications to the country’s economic environment.
The Government has attributed the progress achieved so far to disciplined fiscal management and measures aimed at maintaining economic stability amid these challenges.
The 2027 Budget is expected to signal a shift in policy emphasis, moving beyond the immediate priorities of economic stabilisation towards broader expansion and structural development. Its proposals are therefore likely to provide an indication of how the National People’s Power administration intends to translate recent economic progress into longer-term growth, investment and improved economic opportunities.
With the Budget now cleared by the Cabinet and its parliamentary timetable established, attention is turning to the President’s address, which will outline the Government’s direction for the next financial year.