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Sri Lanka finance minister says aims to cut deficit to 4% over medium term

COLOMBO, Nov 17 (Reuters) - Sri Lanka’s finance minister Mahinda Rajapaksa said on Tuesday the island nation aims to cut its fiscal deficit to 4% over the medium-term, from 9% currently.

Presenting the annual budget Rajapaska, who also serves as prime minister, said he had a medium-term inflation target of 5% and medium-term growth target 6%, while the country aims to cut its debt-to-GDP ratio to 70% from current 90% over the medium term.

He did not specify the exact time period. (Reporting by Waruna Karunatilake in Colombo Writing by Alasdair Pal; Editing by Sanjeev Miglani)

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