08 October 2021
by Jon Grevatt & Andrew MacDonald
Sri Lanka's defence finances is forecast by Janes to extend by a median of two% yearly between 2021 and 2025. (Janes Defence Budgets)
The authorities of Sri Lanka has proposed a defence finances of LKR373 billion (USD1.86 billion) for 2022, a 14% enhance over the allocation in 2021.
The new finances plan was contained within the appropriation invoice for 2022, which was introduced to parliament on 7 October.
According to the invoice, the proposed defence allocation accounts for 15% of whole authorities expenditure for 2022.
The proposed finances includes LKR326.3 billion for ‘recurrent' expenditure for operations, upkeep, and salaries. It additionally consists of LKR46.7 billion for capital expenditure.
The recurrent allocation is a 20.5% enhance over the expenditure in 2021 whereas the appropriation for capital expenditure is an increase of 26%.
The 2022 invoice additionally lays out proposed funding for the branches of the Sri Lankan Armed Forces (SLAF).
The military will obtain a complete allocation of LKR188.1 billion, a year-on-year enhance of 11%. The navy will get LKR63.9 billion, a rise of 4%, whereas LKR56 billion has been allotted to the air power, a rise of 8.5%.
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