President Anura Kumara Dissanayake presented the 2027 Budget speech in Parliament today in his capacity as the Minister of Finance, Planning and Economic Development. Earlier in the day, the Cabinet of Ministers granted approval for the proposals to be placed before the House.
The President explained that this Budget is a collective effort rather than the work of a single individual or group. He said it incorporates thoughts, suggestions, and experiences gathered from multiple sectors to support the country's production economy.
Economic Shift and External Pressure
According to the President, the country has successfully managed to stabilise its economy over the past two years despite facing domestic and foreign hurdles. He stated that the country has now stepped forward from mere stabilisation into a stage of full economic transformation.
Highlighting severe external shocks, he pointed out that conflicts in the Middle East drove up global fuel prices, prompting the state to allocate Rs. 147 billion in relief for the public. On top of that, an estimated USD 3.4 billion was spent due to Cyclone Ditwah destruction and subsequent rebuild work, alongside looming risks from the anticipated El Niño weather pattern.
Public Service and Debate Timeline
Speaking about state machinery, President Dissanayake stressed that the country does not need an oversized administration, but rather an efficient public service that genuinely serves the people.
The Appropriation Bill for 2027 was first tabled on October 7 by Dr. Anil Jayantha Fernando, the Deputy Minister of Finance and Planning. The speech was also broadcast live across TV Derana, Ada Derana 24, and its social media networks.
What happens next
The Second Reading debate will run from November 13 to November 20, with the vote fixed for 6.00 p.m. on November 20. The Committee Stage debate will follow from November 21 to December 14, concluding with the Third Reading vote at 6.00 p.m. on December 14.
