The Hon. (Dr.) Anil Jayantha - Minister of Labour and Deputy Minister of Economic Development

¶ 01 Hon. Deputy Speaker, on behalf of the Minister of Finance, Planning and Economic Development, I present this Statement.

¶ 02 In terms of the Public Financial Management Act, No. 44 of 2024, this is the first such presentation. Annually, by 30th June, this Statement must be presented. It has two main parts. The first is the Fiscal Strategy Statement: a rules-based, planned medium-term framework for five years, setting out how public finances will be managed for 2026–2030, including transparency and the planning process. This rolling plan will be updated annually as conditions evolve. The Cabinet approved this on 23rd June, and it is presented to Parliament by 30th June as required.

¶ 03 The Statement will also be published on the Ministry of Finance website for public awareness and debate. It sets objectives and numerical targets for public revenue, discussed in detail within the Statement.

¶ 04 Part II is the Statement of Fiscal Risks for 2026. “Risk” is the potential deviation from planned targets. For 2026, revenue is targeted at 15.1 per cent of GDP; the risks to achieving this are analysed, including exogenous shocks and domestic macro-fiscal deviations. Mitigation measures to minimise risks and stay on target are outlined. This is the “Fiscal Strategy Statement,” presented today.

¶ 05 Thank you for the opportunity, Hon. Deputy Speaker.