Sri Lanka's Budget 2025: A Leap to Economic Stability

Sri Lanka's National People's Power government successfully passed its first full-year budget, forecasting a 5% economic growth for 2025. Despite opposition labeling it as IMF-friendly, the budget aims to increase tax revenue and pay external debts while addressing societal needs.

The National People's Power (NPP) government in Sri Lanka has achieved a significant political milestone with the approval of its 2025 budget by parliament, marking its first full fiscal year strategy since seizing power in November.

Despite vocal opposition criticism labeling the budget as compliant with International Monetary Fund (IMF) terms, leading members of parliament defended the budget, emphasizing its people-centric approach. Minister Bimal Rathnayaka stated it serves the neglected sectors while rebutting claims of IMF influence.

President Anura Dissanayake outlined growth expectations and fiscal targets designed to stabilize the post-crisis economy, aiming for a 5% growth rate and addressing external debts and tax revenue enhancement aligned with IMF objectives.