The Committee on Public Finance approves the amendment to increase the borrowing limit

The amendment to the Appropriation Act No. 07 of 2020 to increase the borrowing limit was recently approved by the Committee on Public Finance chaired by Member of Parliament Anura Priyadarshana Yapa.

 

Accordingly, the borrowing limit which was Rs. 2,997 billion will be increased to Rs. 3,397 billion, it was revealed at the Committee on Public Finance held via video conference, the Communications Department of Parliament said.

 

Secretary to the Ministry of Finance and the Treasury S.R. Attygalle had pointed out that an amendment to the Appropriation Act was needed to increase the borrowing limit due to the economic downturn in the country caused by the Covid-19 situation.

 

He also said that a sum of Rs. 200 billion had been approved by the Parliament recently for supplementary expenditure.