HIGHLIGHTS-Sri Lanka president presents budget aimed at stemming crisis

Sri Lankan President Ranil Wickremesinghe on Tuesday presented an interim budget aimed at stemming the country's worst financial crisis in decades.

Here are the highlights from the budget speech of Wickremesinghe, who also serves as the country's finance minister. IMF

* Wickremesinghe says talks with IMF "have reached a successful level" * Says hope to start talks with creditors

* After IMF program concludes, decisions will be presented to parliament TARGETS

* Targeting inflation in mid-single digits * Target medium-term economic growth at 5%

* Target to increase public revenue to 15% of GDP by 2025 from 8.2% REFORMS

* Will encourage FDI and joint ventures to develop Sri Lanka's natural resources * Loss-making state enterprises to be restructured under a special unit

* New legislation to be introduced to strengthen fiscal management National debt management agency to be established under the finance ministry

BANKING/TAXATION * New central bank act is to be introduced

* Central bank act to reduce politicization and money printing of monetary authority * Plan to increase reserves and reduce impact on the exchange rate

* Fresh taxes to be introduced in the 2023 budget WELFARE

* New system to be established to better target welfare, funds sent directly to bank accounts * Additional 4.6 billion Sri Lankan rupees ($12.85 million) for welfare support in the next four months ($1 = 358.0000 Sri Lankan rupees)