02.51 PM
An allocation of Rs. 1,000 million has been made to acquire fixed scanning machines and container scanners to expand the scanning capacity of Sri Lanka Customs.
02.50 PM
The 10% Port and Airport Development Levy (PAL) on imported solar batteries will be removed.
02.48 PM
The government has proposed relief for households installing battery storage systems for rooftop solar power.
Under the proposed scheme, consumers will receive Rs. 25,000 per kilowatt, up to a maximum of Rs. 250,000 for systems of up to 10 kW.
An allocation of Rs. 3,500 million has been proposed for the scheme.
02.47 PM
The President says the government has appointed a committee to oversee efforts to expand Sri Lanka’s existing Free Trade Agreement (FTA) with India.
Sri Lanka is exploring the possibility of entering into a new Free Trade Agreement with China.
He further says Rs. 3,430 million has been allocated for the Sri Lanka-Europe Economic and Trade Cooperation Programme.
A proposal has been made to introduce procedures for trade transactions between ports and modernise the existing duty concession clearance process for goods imported for export purposes, with the aim of encouraging small and medium-scale industries to engage in exports.
02.44 PM
The government has allocated Rs. 26.5 billion to upgrade and strengthen the national power grid and improve system resilience to prevent nationwide power outages such as the one experienced recently.
02.43 PM
The President said renewable energy accounts for 62% of Sri Lanka’s total installed power generation capacity.
He noted that renewable sources accounted for 71% of the average electricity generated in November, while the share reached 80% on a single day in September.
Sri Lanka has already demonstrated its capacity to generate more than the current 62% share from renewable sources, the President said, stressing the need for further investment in the sector.
02.41 PM
The President says investment promotion will be facilitated by a new government entity with 100% shareholding by the Treasury.
A new law will be introduced for management of State assets.
02.40 PM
The government has allocated Rs. 1,990 million for the establishment of a National Single Trade Window and Rs. 100 million for the creation of a National Single Investment Window.
02.39 PM
The President said the legal framework governing the relationship between workers and employers will be revised and presented to Parliament.
New legislation to strengthen employer-employee relations will be presented to Parliament.
02.35 PM
The President said Sri Lanka lacked the expertise needed to develop a regulatory framework for gambling and had therefore sought assistance from foreign experts. The necessary regulatory provisions would be introduced, he added.
President Anura Kumara Dissanayake says the government will introduce a special incentives package aimed at encouraging investment and improving Sri Lanka’s attractiveness as an investment destination.
02.34 PM
The President said the Customs Ordinance amendment can be expected by March 2027.
02.32 PM
The Investment Protection Bill has been submitted to the Attorney General for legal clearance.
The Colombo Port City Economic Commission Act will be amended to attract foreign investment.
The President announced that a National Statistics Act is currently being drafted, highlighting that reliable data is essential for effective policymaking and governance.
02.29 PM
The President said the government hoped to successfully complete the 17th IMF programme, adding that a committee had been appointed to assess the need for a subsequent programme.
02.23 PM
Capital expenditure had historically remained low in comparison with recurrent expenditure, the President said.
However, the government aims to increase capital expenditure by 5.1%, with Rs. 2,000 billion allocated for capital spending, he said.
The president says the government’s objective is to achieve sustained 7% annual economic growth.
President Anura Kumara Dissanayake says the Middle East crisis had severely affected Sri Lanka’s energy supply and that the government had spent Rs. 147 billion on relief subsidies as a result.
02.18 PM
Sri Lanka has made significant progress in global economic and social rankings over the past two years, the President said. By 2026, rating agencies had upgraded the country’s rating from CC+ to B-, marking progress for a country that had previously been bankrupt.
02.16 PM
The President says loans extended by State banks to the private sector increased by 25% compared to 2024.
02.14 PM
Sri Lanka’s debt servicing costs stood at $3,707 million in 2025 and are projected to reach $3,591 million in 2026.
The figures are projected to decline to $2,986 million in 2027 and to $3,574 million in 2028.
Citing these figures, the President rejected claims that Sri Lanka would be unable to meet its debt servicing obligations in the coming years, pointing to the country’s projected capacity to meet these payments.
02.12 PM
Under the programme agreed with the IMF, the government initially aimed to reduce public debt to 95% by 2032. However, the IMF’s sixth review projects that, under the current economic trajectory, public debt could decline to 87% by that year.
02.10 PM
The President says annual inflation rose from 2.1% in December 2025 to 8.3% in October 2026.
02.07 PM
In 2022, 79.1% of government revenue was spent on interest payments. This was reduced to 45.9% in 2025 and further to 39.6% by September 2026.
02.05 PM
Sri Lanka’s debt levels were reduced to 95% by the end of 2025, from the level recorded at the end of 2022.
President Anura Kumara Dissanayake says the country’s growing positive standing in the international community is reflected through Sri Lanka successfully securing the release of a youth who had been sentenced to death abroad.
02.02 PM
Vehicle imports amounted to $1.6 billion in 2025, while letters of credit (LCs) worth $1.5 billion have been opened so far in 2026.
Over the past two years, vehicle imports have exceeded $3 billion. Combined with an additional $2 billion in fuel import costs, the country has had to bear more than $5 billion in additional expenditure.
The President said foreign reserves had nevertheless exceeded $7 billion despite these costs.
01.58 PM
The government spent $4,042 million on fuel imports in 2025. By September 2026, expenditure on fuel imports had reached $4,487 million, exceeding the total amount spent throughout the previous year.
01.56 PM
President Anura Kumara Dissanayake says SriLankan Airlines has suffered losses totalling Rs. 528 billion since former President Mahinda Rajapaksa cancelled its partnership with Emirates in 2008, allegedly over a personal issue.
Stating that the Cabinet has appointed a special committee to explore options to reduce the debt of the national carrier, he requested everyone in parliament to support these efforts.
The President expressed gratitude to migrant workers, saying the country expected foreign remittances to exceed $9 billion.
01.53 PM
The President says the 2027 budget is designed to strengthen the country’s production economy.
President Anura Kumara Dissanayake says the government’s objective is to manage the country’s current economic challenges while laying the foundation for a better future for the next generation.
01.47 PM
The President said economic stability had been achieved during one of the most challenging periods, referring to the Middle East conflict and its impact on global oil and fuel prices, which placed considerable pressure on the economy.
“We have still not been able to overcome these pressures,” he said.
The government spent more than Rs. 147 billion to provide relief to the public across several sectors, the President said.
01.41 PM
President Anura Kumara Dissanayake has commenced presenting the Appropriation Bill for the financial year 2027.
01.39 PM
Prime Minister Harini Amarasuriya presented the Appropriation Bill for the financial year 2027 to Parliament.
01.34 PM
President Anura Kumara Dissanayake has arrived at the Parliament premises to present the Appropriation Bill for the 2027 financial year.
The President, in his capacity as Minister of Finance, will deliver the second reading of the Appropriation Bill for the year 2027, commonly referred to as the Budget Speech.
According to the government, the 2027 Budget will include Rs. 2 trillion in capital allocations aimed at economic expansion and transformative development.
