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The UNF Government's second budget to be presented in Parliament tomorrow by Finance Minster K.N.Choksy will focus on accelerating key sectors in the economy such as agriculture and industries and creating more employment opportunities.

Minister of Rural Economy and Deputy Finance Minister, Bandula Gunawardene told the Daily News that the Government's aim is to present a development-oriented budget without heaping more burdens on people. However, he said that the 2002/2003 fiscal year will be the most difficult, hinting that much relief cannot be expected from the budget 2003.

"We will present a set of budget proposals which are aimed at reviving the economy. As 2003 is the Year of Employment, the emphasis is on creating more jobs," Gunawardene said.

The aim of the Government is to keep the budget deficit at around 7.5 to 8 per cent of GDP by non-inflationary methods. Government borrowings are estimated at Rs. 350 billion and the revenue targeted for 2003 is Rs. 317 billion.

Several business leaders told the Daily News that they expected a budget which will induce development activities in the key sectors while attracting direct foreign investment.

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