ECONOMYNEXT – Sri Lanka’s parliament passed a budget for 2022 with 153 votes for and 60 against in its second reading.
The budget was the first by Finance Minister Basil Rajapaksa in the administration of his brother President Gotabaya Rajapaksa.
The third reading of the budget involving so-called ‘committee stage’ debates will start next.
The budget comes amid foreign exchange shortage coming from excessive money printing to target a call money rate which has severely depleted forex reserves.
Finance Minister Rajapaksa said money was allocated to all districts from the North to the South.
However the budget vote came as vegetable prices rose to record highs amid rains and a ban on fertilizer and agro-chemicals.
Minister Rajapaksa said a cultivation offensive will be launched as soon as rains ended. (Colombo/Nov22/2021)