03.50 PM
A new car park will be constructed by Airport and Aviation Services (Sri Lanka) Limited (AASL) at a cost of Rs. 400 million to minimize vehicle congestion in and around the airport.
Rs. 200 million has been allocated for a feasibility study on widening the road and constructing a flyover near the airport to ease traffic congestion.
Airport and Aviation Services (Sri Lanka) Limited (AASL) will begin construction of an Rs. 800 million domestic air terminal next year to facilitate international passengers travelling to local destinations.
03.47 PM
The President says it is proposed to expand the Bandaranaike International Airport’s passenger handling capacity to meet projected demand of 16 million passengers by 2032.
03.45 PM
The government has proposed a Rs. 5,000 million loan scheme to support entrepreneurship in rural areas through Samurdhi banks.
Under the scheme, loans will be offered at a concessionary interest rate of 4%, with the Treasury covering the remaining interest cost. To qualify, entrepreneurs must employ at least five beneficiaries of the Aswesuma welfare programme.
03.44 PM
The President says the feasibility study currently being carried out for the development of the Colombo North Port is expected to be completed in the first half of next year.
It is expected to spend Rs. 300 million from the funds of the Ports Authority to expeditiously carry out the additional study on the Kelani River estuary.
03.42 PM
Rs. 7.5 billion will be allocated to support the development of the home-stay tourism sector.
Under the programme, eligible entrepreneurs will have access to concessionary loans of up to Rs. 2 million at an annual interest rate of 3% to establish or expand home-stay accommodation facilities.
03.41 PM
The President says an interest-free loan scheme will be introduced for the fisheries sector in 2027.
03.39 PM
Rs. 12.5 billion programme to support women-led households through concessional financing, the President announced.
Under the scheme, loans of up to Rs. 1 million will be provided through Samurdhi Bank at an annual interest rate of 3%, with lending to be extended on a group-loan basis.
03.37 PM
An allocation of Rs. 10,630 million has been made for the development and reconstruction of rural bridges.
03.35 PM
Flyovers will be constructed on the access road to the Kandy Multimodal Transport Centre and across the railway lines at Alawwa and Muththettugala.
03.32 PM
The government will strengthen funding for digital startups and new digital ventures in the private sector, allocating Rs. 10 billion for this purpose.
A total of Rs. 28.5 billion has been allocated for digital transformation in 2027, marking the largest allocation for the digital sector in Sri Lanka’s history.
03.31 PM
The President has announced a record allocation of Rs. 487 billion for the development and modernisation of Sri Lanka’s road and railway infrastructure.
03.29 PM
Rs. 30,000 million has been allocated for the construction of the stretch from Kurunegala to Galewela on the Kurunegala-Dambulla Expressway.
Construction of the Ruwanpura Expressway will commence on December 1, with an additional Rs. 27,000 million allocated for next year, on top of the allocation made for 2026.
03.27 PM
President Anura Kumara Dissanayake announced the adoption of GovPay and QR-based payment systems to promote cashless transactions.
03.25 PM
Students pursuing higher education at private universities will continue to have access to interest-free loans through state banks.
The monthly allowance provided to students under the scheme, currently Rs. 6,250, will be increased to Rs. 10,000 from April 2027.
03.22 PM
Education reforms for Grades 06 and 02 will be implemented from next year.
A Rs. 2,050 million project to construct residential facilities for staff of the University of Vavuniya is scheduled to commence in 2027.
A further Rs. 750 million has been allocated for 2027 to renovate universities affected by Cyclone Ditwah, including the University of Peradeniya.
03.20 PM
Taxes for new communication towers are to be removed for a five-year period, to expand high-speed broadband and internet coverage across rural areas by 2030.
03.19 PM
The annual one-time payment for eligible Dhamma school teachers will be increased from Rs. 7,500 to Rs. 12,500.
03.18 PM
From April 2027, the monthly allowance for students undergoing teacher training at the National Institute of Education will be increased from Rs. 10,500 to Rs. 20,000.
The daily allowance for Bhikkhu students at Pirivena institutions will be increased from Rs. 5 to Rs. 50, while the allowance for lay students will rise from Rs. 5 to Rs. 25.
03.17 PM
President Anura Kumara Dissanayake announced that broadband internet facilities will be provided to 750,000 selected students across the country as part of the government’s digital transformation agenda.
The Chinese Government has assured Sri Lanka that its programme to provide school uniform material will continue in the coming years.
03.15 PM
Operations have already commenced under GoVTech, which is 100% owned by the Treasury, to implement a roadmap for the digitalisation of public services.
The Personal Data Protection Act has been amended, and the Data Protection Authority has been activated.
03.14 PM
A Bill to establish the Digital Economy Authority and the Digital Economy Council will be presented in the first quarter of 2027.
The government intends to establish a Digital Economy Authority through legislation.
03.13 PM
Funding has been allocated in 2026 to promote digital literacy among selected school students through broadband vouchers, with further allocations planned for 2027.
Rs. 10,000 million has been allocated for a Digital Entrepreneurship Fund to support the growth of digital businesses and entrepreneurship.
03.12 PM
Bids called by the Ceylon Petroleum Development Authority for oil and natural gas exploration and production in four offshore blocks in the Mannar Basin, with bidding closing on February 02, 2027.
The blocks will be awarded promptly after a review, to enhance the country’s oil and natural gas production.
03.09 PM
A Digital Economy Act will be established, alongside a Cyber Security Authority in 2027.
A new procurement process for digital purchases will also be implemented.
03.06 PM
An AI Excellence Centre will be established at Wijerama Mawatha to strengthen AI capabilities, promote the responsible use of artificial intelligence and bring together government representatives, experts and members of the academic community under one roof.
03.04 PM
President Anura Kumara Dissanayake said that a 30-megawatt battery storage system will be installed at the Norochcholai Power Plant.
He further announced plans to set up new floating solar power systems on lakes to generate 500 MW of energy.
03.01 PM
Fuel storage capacity will be increased to ensure supplies sufficient for 45 days.
The President says Rs. 22.34 billion has been allocated for a project to construct a jet fuel pipeline from Muthurajawela to BIA and develop fuel storage facilities with a capacity of 92,000 metric tonnes.
02.59 PM
The government has called for tenders for the Rs. 16,332 million for the Kolonnawa-to-Harbour Pipeline Project, which aims to reduce fuel unloading times from 96 hours to 48 hours.
The project, expected to be completed within 18 months, is also expected to reduce demurrage costs, with each day of delay currently costing the country approximately $30,000 in payments to shipping companies.
02.56 PM
The President announces plans to provide free smart meters to 300,000 electricity consumers using more than 180 units.
All electricity consumers of Lanka Electricity Company (LECO) using over 120 units will be provided with smart meters
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.
