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Sri Lanka to cut 2017 spending to meet deficit goal - finance secretary
August 31, 2017 / 7:15 AM / 3 months ago

Sri Lanka to cut 2017 spending to meet deficit goal - finance secretary

COLOMBO, Aug 31 (Reuters) - Sri Lanka will cut government expenditure to stick to its 2017 budget deficit target of 4.6 percent of gross domestic product (GDP) and compensate for a fall in revenue, the top bureaucrat in the finance ministry said on Thursday.

“We will re-arrange and cut some expenditure to meet the deficit target,” Finance Secretary R.H.S. Samaratunga told Reuters on the sidelines of a meeting in the capital, Colombo.

Sri Lanka will fall short of its 2017 revenue target because of delays in adopting budget proposals. (Reporting by Shihar Aneez; Editing by Clarence Fernandez)

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