Sunday, 01 December 2013 - 9:00
Govt to slash deficit to 3.8 percent by 2016
Unveiling the government's mid-term strategy, Treasury Secretary Dr. P.B. Jayasundera said that the government intends to bring down the fiscal deficit by 3.8 percent in 2016, while increasing the country's per capita income by 4,000 dollars through a three-year plan which will be launched next year.
Addressing the annual budget seminar Dr. Jayasundera told a gathering of accountants and accounting students that Budget 2014 was part of a three-year strategy.
Accordingly, the government forecasts a 5.2 percent fiscal deficit by December 2014, followed by a 4.5 percent deficit in 2015 and finally a 3.8 percent deficit by 2016.