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Treasury Secretary speaks out on Budget 2021, growth drivers and debt challenge

It is comprehensively “growth” oriented.

What were the factors that resulted in the 2021 Budget?
The country has been experiencing slow and low growth since 2015, which by 2019 was only 2.3% vis-à-vis 5% in 2014. Contractors and suppliers who had supplied a good or a service to the Government had not been paid their dues, which by the end of 2019 was almost Rs. 250 billion. NPL in the banks had increased to almost 5% from the lows of 1-2 % with almost 25% of those in the NPL constituted by SMEs. The electricity sector that requires at least 200 MW to be added annually did not see a single MW added to the electricity generation capacity. ....

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Implementation unit to track Budget 2021: Treasury Secy.

Appointments already made; depts. restructured to improve productivity
Attygalle confident Budget will realign growth, increase revenues and improve debt
Procurement guidelines to be updated, e-procurement to be rolled out soon
Defends practicality of Budget, says at least 8 proposals already done
Delivering technology, digitalisation and connectivity key aims of Budget
By Nisthar Cassim
Treasury Secretary S.R. Attygalle
The Finance Ministry will establish a Budget Implementation Unit to coordinate Budget 2021 to ensure it meets the Government’s aspirations of realigning the economy to tap Sri Lanka’s growth potential fully, increase revenues and promote debt sustainability.
Treasury Secretary S.R. Attygalle told Daily FT in an exclusive interview that the implementation unit would address concerns over implementation and emphasised that all Budget proposals would be implemented with at least eight largely tax- and loan-oriented pro ....

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