President Anura Kumara Dissanayake, in his role as the Minister of Finance, is taking steps to secure funding through a Vote on Account to cover expenses until the next budget is passed. According to an official from the Ministry of Finance, this proposal is likely to be presented and approved by Parliament during the first parliamentary week after the general election.
The government aims to allocate funds through this Vote on Account to meet financial obligations, including paying public servants’ salaries until March 31, the start of the 2025 financial year. A key consideration is a salary increase for public servants ranging from Rs. 6,500 to 7,500, starting January next year, in line with current economic growth projections and agreements with the International Monetary Fund (IMF).
Future discussions are planned with the IMF on this matter. Officials have noted that if the salary increase exceeds the Rs. 6,500 to 7,500 range, VAT may need to be raised by 1-2%. The first parliamentary session of the new government is scheduled for November 21, one week after the general election, with the debate and approval of this interim Vote on Account expected the following week.
