Volume III

FISCAL MANAGEMENT (RESPONSIBILITY) ACT

Arrangement of Sections

1. Short title.

2. Government strategy to be based on responsible Fiscal Management.

3. Objectives underlying responsible Fiscal Management.

4. Fiscal Strategy Statement.

5. Objectives of Statement.

6. Contents of Statement.

7. Budget Economic and Fiscal Position Report.

8. Objectives of the Budget Economic and Fiscal Position Report.

9. Contents of Budget Economic Fiscal position Report.

10. Mid-Year Fiscal Position Report.

11. Objectives of the Mid-Year Fiscal position report.

12. Contents of the Mid-Year Fiscal Position report.

13. Final Budget Position Report.

14. Objectives of the Final Budget Position Report.

15. Contents of the Final Budget Position Report.

16. Pre-election Budgetary Position Report.

17. Contents of Pre-election Budgetary Position Report.

18. Minister to provide information for preparation of Pre-election Budgetary Position Report.

19. Statements of Responsibility.

20. Restrictions on Borrowing from Central Bank.

21. Reports and Statements to conform to accounting standards.

22. Power of Secretary to obtain information.

23. Reference to Reports of Standing Committees of Parliament.

24. Publication and sale of reports.

25. Protection of action.

26. Departure from the provisions of this Act.

27. Sinhala text to prevail in case of inconsistency.

3 of 2003,

15 of 2013,

13 of 2016,

12 of 2021.

AN ACT to ensure that the financial strategy of the Government is based on principles of responsible Fiscal Management, to facilitate public scrutiny of fiscal policy and performance, and to provide for matters connected therewith or incidental thereto.

[Date of Commencement: 9th January, 2003]