Prime Minister Ranil Wickremesinghe today met with representatives of the Chambers of Commerce, the Treasury and Economic Advisers to discuss a new Budget and future economic plans.
During the meeting at the Prime Minister’s Office, the Prime Minister pointed out that a new Budget would be presented which would significantly reduce capital expenditure.
The Premier said the money saved would be used for welfare programmes.
The Prime Minister further explained that with the war in Ukraine, the country is facing a food shortage due to mismanagement of the local market, adding that the food shortage will affect not only Sri Lanka but the global market.
The Premier added the government is seeking ways to minimize the impact of the shortages.
Meanwhile, recommendations were made to the Prime Minister that the process of distributing relief to the people should be digitised.
In addition, the Prime Minister stated that an economic policy framework that enshrines economic rights would be included in the Constitution.
He also proposed that the Treasury plan to undertake structural reforms based on a competitive social market economy that can achieve development goals.