IMF tells Treasury to allocate Rs.187 Bn for social benefits

(LANKAPUVATH | COLOMBO) – The International Monetary Fund (IMF) has notified the Treasury to allocate at least Rs.187 billion to paying social benefits including Samurdhi, disability, elderly, kidney impairment payments in May.

The amount spent by the government for this was Rs.142 billion in 2022. Accordingly, Finance State Minister Dr. Ranjith Siyambalapitiya stated that the IMF has expressed its willingness to pay an additional Rs.45 billion for social security activities this year. State Minister Siyambalapitiya said that President Ranil Wickremesinghe has also instructed to provide relief, welfare benefits in the face of the economic crisis.

An unbiased criteria has been used for the selection process of welfare beneficiaries. However a recent census at national level shows that unsuitable persons have also received social benefits.

Accordingly, it is the responsibility of the state to provide the benefits to the identified beneficiaries.

Subsidy expenditure, which was 2 per cent of the GDP in 2007, has risen to 18 per cent of GDP this year.

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