Finance Ministry Begins Work On 2027 Budget Proposals

COLOMBO (News 1st): The Ministry of Finance says preparations have commenced for the 2027 Budget, which will include proposals aimed at achieving an economic growth target of over 7 percent.The Ministry said projects under the State Investment Programme will be implemented next year based on priority and public interest.It added that the process of obtaining proposals from each ministry for the upcoming budget is currently in its final stage.The Ministry said a review of this year’s progress of government institutions and discussions on project proposals for next year will be held under the patronage of the President.Meanwhile, the Ministry of Finance said the Inland Revenue Department, Sri Lanka Customs, and the Excise Department have exceeded their revenue targets during the past year.According to the Ministry, economic stability has been restored, while financial discipline has been strengthened across government institutions.The Ministry further noted that several state-owned enterprises have achieved their revenue targets and have become profitable, contributing to economic stability.Priority will be given in the 2027 Budget to encouraging foreign investment, accelerating infrastructure development, and strengthening programmes aimed at improving the livelihoods of low-income communities.