Budget 2009, another milestone

Ananda Wedaarachchi

The budget 2009 is another milestone to help expand our capacity to grow while facing the new challenges faced by the world crisis, said Deputy Secretary to the Treasury, Ministry of Finance and planning R. A. Jayatissa.

Budget management is always a balancing act in the mobilisation and use of resources under difficult condition with competing demand and resource limitations, he said.

Addressing a “Budget Seminar” organised by the MBA Alumni Association, Jayatissa said this year’s budget is another step towards a better tomorrow. “For financing there is a large aid pipeline already committed amounting to around US$ 5.8 billion, largely confessional terms.

The resource of around 3.5 percent GDP will be available for the countries development activities, he said. Elaborating the economic policy framework of the Mahinda Chintana he said that eight percent GDP growth during the first six years, balanced development and elimination of poverty are the objectives of it.

He said that the Government achieved a satisfactory higher rate of economic growth under difficult conditions. The growth rate achieved was about 2 percentage points higher than the average growth rate in the past 10 years, he said.