Minister Gunawardane exposes lack of compliance with fiscal management laws
"
…. the Fiscal Management Responsibility Act No. 3 of 2003…had three main goals…to maintain the budget gap below 5%..... reducing public debt as a percentage of GDP to 65% by 2013, that is, in 10 years…. reducing the amount that the government guarantees when borrowing to 4.5% of GDP…..today the budget gap is at levels such as 10%, 12%, and the amount of public debt has gone up to more than 125% of the GDP. The guarantee for public debt has gone up to 15%...
Official YouTube Page of the Department of Government Information | May 9, 2023
Posted on: 8 June, 2023
True