A Pre-election Budgetary Position Report containing information on the fiscal position of the country will have to be published by the ministry in terms of the section 16 (1) of the Fiscal Management (Responsibility) Act No. 2 of 2003 as amended.
“Pre-election Budgetary Position Report should be made public by the Secretary to the Ministry shall within three weeks of the publication the Proclamation or Order requiring the holding of a general election”.
The citizens eagerly await such release; and trust that the media will give it top priority publicity; and arrange analytical and professional talk shows around its disclosures; whilst the academia, business and activists will critique it and signal the derivative socio & macro-economic consequences in the short to medium term he said.
This has never happen in the country u to now, it is better to commence this practice under the leadership of President Gotabaya Rajapaksa , he added.
Section 17 (1) of the Fiscal Management (Responsibility) Act No. 2 of 2003 as amended, specifies that “Every Pre-election Budgetary Position Report shall contain several fincaial datare electiopeiod..
These factors are estimates of revenue and expenditure; Government borrowings; the economic and other assumptions used to prepare estimates.
It should contain a statement of the risks, quantified where practicable, that may have material effect on the fiscal position, ) contingent liabilities including guarantees and indemnities given by the Government under any Act etc.
Where information on any matter required to be included in a Pre-election Budgetary Position Report remains unchanged from the information on that matter included in a previous Budget Economic and Fiscal Position Report or a Mid-Year Budget Fiscal Position Report.
The Pre-election Budgetary Position Report shall state that such information remains unchanged from the information included in either or both of these previous reports.
(LI)