Sri Lankan President outlines vision for inclusive economic growth in 2025 budget

Sri Lankan President Anura Kumara Dissanayake announced that this year’s budget will be designed to involve every segment of the population in the country’s economic processes.

The President shared these views during a preliminary discussion held today (January 21) at the Presidential Secretariat in Colombo with officials from the Ministry of Finance on the formulation of the 2025 budget.

The discussion emphasized the importance of creating an efficient and productive economic system. Key areas of focus included strengthening public transportation and optimizing the use of decentralized funds allocated to Members of Parliament (MPs).

The meeting explored ways for the government to improve public transportation by providing essential facilities. It was noted that in previous administrations, substantial funds allocated to decentralized projects were often not used for productive initiatives. The President highlighted the need to redirect these resources toward national projects to ensure effective utilization.

Discussions also addressed the regulation of rice stocks held by producers and the timely repayment of loans provided to rice millers for purchasing paddy, with a proposed one-year repayment period.

President Dissanayake underlined the importance of extending the benefits of urban-centered economic activities to grassroots communities. He called for an economic plan that ensures equitable distribution across all provinces, emphasizing active involvement from the grassroots level.

He also pointed out deficiencies in current welfare distribution systems, stressing the importance of identifying genuinely deserving communities and expediting the delivery process to ensure timely support.

The meeting was attended by the Minister of Labour and Deputy Minister of Economic Development, Dr. Anil Jayantha Fernando; Secretary to the President, Dr. Nandika Sanath Kumanayake; Secretary to the Ministry of Finance, Mr. Mahinda Siriwardana; Senior Additional Secretary to the President, Mr. Russell Aponsu; Deputy Secretary to the Treasury, Mr. A.K. Seneviratne; and other senior officials.