President instructs all Ministries to slash expenses by 5%

President Ranil Wickremesinghe has instructed all Cabinet Ministries to reduce expenses by five percent this year.

Speaking during a media briefing at the Department of Government Information this morning, Cabinet Spokesman Minister Bandula Gunawardena said during yesterday’s weekly Cabinet meeting, President Wickremesinghe instructed all Ministries to reduce the expenditure by five percent from the estimated allocations made through the 2023 Budget.

The President has said due to last year’s default, Sri Lanka is facing difficulties to source funds to even pay salaries of state sector workers and pension payments.

The Head of State said accordingly, expenses of all Ministries must be reduced by at least five percent.

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