By. Ashoka Peiris
The maiden budget of the new NPP government was presented to the Parliament yesterday by the finance minister and President Mr. Anura Kumara Dissanayake at 10.30 am.
In the budget, the President announced an increase in public sector wages, increased allowances for underprivileged and disabled communities and allowances for school students.
President Dissayanake, in his budget speech today announced that the government expects to achieve an export revenue of US$19 billion in 2025.
Happily, this projection exceeds the target set by the Export Development Board (EDB) last month.
In January 2025, EDB Chairman Mangala Wijesinghe stated that the government aimed for an export revenue of US $18.2 billion in 2025.
Under a revised export strategy, he stated that the government plans to increase merchandise exports from last year’s revenue of US$12.7 billion to US$14 billion.
Additionally, service exports are expected to increase from US$3.5 billion to US$4.2 billion over the next 12 months.
The revenue targets are part of the government’s ambitious plan to achieve US$36 billion in export revenue within the next five years, with US$25 billion projected from merchandise exports and US$11 billion from service exports.
“This year’s budget has been designed with the aim of involving every section of the population in the economic process”
The Jaffna Library, an essential hub for students and researchers, will receive Rs. 100 million for infrastructure upgrades.
Additionally, Rs. 200 million will be used for the enhancement of regional libraries across the country.