Sri Lanka’s parliament on Saturday passed the government’s budget for 2018 with a two-thirds majority. The budget vote, which was taken up in the evening, saw 155 lawmakers voting in favor and 56 voting against.
The budget for 2018 was presented to the Sri Lankan parliament in November by Finance and Media Minister Mangala Samaraweera.
The 2018 Budget, which is Samaraweera’s first after being sworn in as finance minister in May, saw many tax reductions and proposals to strengthen several sectors, including foreign direct investment (FDI), education, health, tourism and economic development.
Presenting a speech in parliament, Samaraweera said “The Budget focuses on liberalization to unlock the barriers to greater investment, trade, and start-up enterprises. It also allocates resources to provide training and skill development for youth to equip them with the capabilities to take advantage of such opportunities.—APP