Thu, 26 May 2022 Today's Paper

Ceylon Chamber says “realistic budget”

7 March 2019 12:14 am - 0     - {{hitsCtrl.values.hits}}

A A A

Sri Lanka’s premier business chamber, the Ceylon Chamber of Commerce (CCC), yesterday identified Budget 2019 as a “more realistic budget”, given the current political and economic situation of the country.


“The 2019 national budget proposes a mix of measures to balance the short-term macroeconomic pressures in the economy with the long-term development agenda. 
We acknowledge the efforts of the government in not delivering overly populist proposals as expected in the lead up to the budget. 


There exists a lack of connectivity with the overall vision proposed by the government through Vision 2025. However, we feel it is a more realistic budget, given the present political economy of the country,” the CCC said in a statement.  


However, the business chamber expressed concern on the GDP estimates provided in the budget speech.
According to Budget 2019, the economy is projected to grow from 3 percent in 2018 to only 4.8 percent by 2024. 


“The growth estimates for this period is not a positive signal for the business climate,” the chamber noted. 


The CCC also pointed out that Budget 2019 did not address some of the fundamental issues of the economy, such as state-owned enterprise reform that would enable Sri Lanka to move towards higher economic trajectory.


While lauding the government for including some of the budget proposals formulated by its membership, the CCC stressed on the swift implementation of such laudable proposals in consultation with the country’s private sector.


“This will be further challenged, given that the effective implementation of the proposals will be limited to a nine-month period. 


The past performance of the government in implementing the budget proposals has been disappointing. It is our hope that the government will be serious about implementation and that the expectations from the proposals will be realized,” the CCC said.

Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.

  Comments - 0

Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.


Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.


Shocking inside stories of the sugar scam

In the backdrop of former Finance Minister Ali Sabry’s proposed plan to inc

Sri Lankans stuck between hunting for essentials and fighting for good governance

Sri Lanka, a tiny South Asian nation of 22 million people, is experiencing fi

Food crisis in Sri Lanka From granary of East to barren nation

A damning revelation by the Food and Agriculture Organisation (FAO) states th

The danger of Basil Rajapaksa’s rule by proxy

Last week, I wrote that the fate of the Ranil Wickremesinghe government would