President presents budget with no “fairy tales”
President Ranil Wickremesinghe today presented the 2024 budget with no “fairy tales” focused on ensuring the country does not go bankrupt again.
Presenting the budget in Parliament, the President, who is also the Minister of Finance, said that advancing a nation requires more than mere fairy tales.
He recalled that the prolonged reliance on election promises by political parties has historically led to the economic bankruptcy of the country.
While noting that raising the salaries of public sector employees is not the way to go as several State institutions are operating at a loss, the President announced an increase in the Cost-of-Living allowance for public servants from Rs 7,800 to Rs. 17,800 from January 2024.
The 2024 budget also allocates funds to improve facilities for tourists, address housing issues in the country, including in the North, and improve domestic cricket. (Colombo Gazette)
