Minister Dr. Nalinda Jayatissa revealed several key details regarding the 2027 budget, scheduled to be presented by the President on the 12th, during the media briefing on Cabinet decisions held today (10).
The minister stated that the government aims to achieve high economic growth over the next three years, adding that Rs. 2,000 billion in allocations have been set aside in this budget for that purpose.
Key Points
- Rs. 2,000 billion allocated for development provisions.
- Tax relief and allowance increments to be granted to certain sectors.
- Public sector basic salaries to increase in April 2025, January 2026, and January 2027.
Tax relief and public sector salary increases
Stating that tax relief will be provided for certain sectors as previously indicated by the President, the minister pointed out that all taxes cannot be abolished simply because the economy has stabilised, and that decisions must be made taking the global economic situation into account.
He further said that public servants will receive a salary increment in January, and basic salary increases will be granted in April 2025, January 2026, and January 2027. In addition, allowance increases for specific sectors have also been included in the budget.
“Our expectation over the next three years is to achieve high economic growth. That has to be done by bringing about a certain transformational change. Relevant proposals for this will be presented. As the President has also stated now, tax relief will be granted in some sectors. However, simply because it is said the economy is stable, we cannot let go of all taxes.” - Minister Dr. Nalinda Jayatissa
What comes next?
The President is scheduled to present the 2027 budget on the 12th.
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