Press briefing of Cabinet Decision taken on 2025-07-01 (Subject to Confirmation at the next Meeting)

Preparation of the Budget for the year 2026

- The Budget for the year 2026 is expected to be prepared adhering to the 2026-2030 Fiscal Framework and the Fiscal Strategy Statement and the National Policy Framework "A Thriving Nation - A Beautiful Life", based on the theme "A Productive Economy and Foster the Engagement of Everyone in Economic Development". It is expected to give special priority to the priorities outlined in the National Policy Framework and rural development initiatives when preparing the 2026 Budget Estimates. Proposals are to be obtained from all Ministries to provide the necessary provisions for the implementation of the projects and programmes identified by each Ministry under the subjects and functions of the Ministries in accordance with the provisions of the Public Finance Management Act, No. 44 of 2024 and the Government Policy Statement. Accordingly, the proposal made by the Hon. President in his capacity as the Minister of Finance, Planning and Economic Development to prepare the Budget for the year 2026, enabling to present the Appropriation Bill for the year 2026 in Parliament in October 2025, conduct the Second Reading (Budget Speech) in November 2025 and to conduct the Third Reading Budget Debate in November and December 2025, was approved by the Cabinet.