State Minister of Finance, Shehan Semasinghe, underscored the proactive and formal economic management approach of the current budget during a discussion held at the Ministry of Finance on the 2024 budget. Minister Semasinghe highlighted the government's commitment to preventing the recurrence of severe economic crises within the country and the comprehensive relief measures aimed at mitigating the impact of the ongoing economic downturn.

Speaking at the discussion, Minister Shehan Semasinghe outlined the key aspects of Budget 2024, emphasizing its focus on extending relief to those significantly affected by the economic challenges. He pointed to a deliberate commitment to supporting small and medium-scale businesses as part of the government's comprehensive economic strategy.

"The budget presented this year has laid the groundwork for growth across various sectors of the economy. To foster economic growth, it is imperative to restore the country to the pre-crisis economic levels. The groundwork for this resurgence was established in the previous budget. The current year’s budget is designed to further fortify economic stability," said Minister Semasinghe.

The Minister of State for Finance also highlighted the achievement of economic stability as a direct outcome of the 2023 budget document. Anticipating a 1.8% economic growth for the upcoming year, the government aims to surpass this target and achieve a growth rate of 2% or more. The formulation of the budget considered agreements with the International Monetary Fund and the nation’s creditors, emphasizing debt sustainability through careful attention to debt restructuring.

Addressing challenges faced by various population groups severely affected by the ongoing economic crisis, the government has prioritized public servants, granting an additional allowance of Rs. 10,000. Approximately 3 million families, including low-income earners, kidney patients, individuals receiving disability allowances, and those receiving elderly allowances, are expected to benefit from these measures.

Small and medium-sized businesses, facing significant challenges, have been a focal point in the budget. Over Rs. 30 billion has been allocated for their rehabilitation, with a structured system devised to facilitate their access to credit facilities at subsidized interest rates.