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Sri Lanka proposes small increase in defence spending

The Sri Lankan government has proposed a 2018 defence budget of LKR290.7 billion (USD1.9 billion). The allocation is contained in the 2018 appropriation bill, which was presented to Sri Lanka’s parliament on 9 October.

The defence budget amounts to about 7% of total government expenditure for 2018, and marks a 2.3% increase over 2017 military expenditure, which totalled LKR284 billion.

Sri Lankan media have reported that the 2018 budget includes LKR260.7 billion for recurrent expenditure, which includes military operations and salaries, while LKR30 billion is ring-fenced for capital funding or military procurement.

These figures represent a respective 4% increase and 7% decline compared with 2017.

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Author: TELOadmin