Sri Lanka's 2027 budget raises public investment, widens fiscal deficit-Xinhua - 新华网

COLOMBO, Nov. 12 (Xinhua) -- Sri Lankan President Anura Kumara Dissanayake, in his capacity as minister of finance, planning and economic development, on Thursday unveiled the country's 2027 Budget, which will raise public investment and widen the fiscal deficit.

The budget, which was presented to the parliament, will raise public investment to 2 trillion Sri Lankan rupees (about 5.96 billion U.S. dollars), while widening the fiscal deficit to 4.5 percent of GDP.

The budget is aimed at shifting the national economic focus from stabilization to aggressive expansion.

The budget also allocates 251 billion rupees to roads, expressways and railways, including 80 billion rupees to begin rail electrification. A further 26.5 billion rupees goes to strengthening the national grid, and battery storage capacity is set to rise from 160 MW to 1,245 MW by 2029. ■