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UNP protest march in Colombo -gossip king

http://www.vilanguwa.info/2016/03/unp-protest-march-in-colombo-gossip-king.html
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16 March 2016

 
Govt aims to reduce budget to 3.5 percent of GDP by 2019 - Ravi
Sri Lanka will strive to tighten its belt and maintain policy consistency to improve its debt rating and help make capital Colombo a global financial center, the country’s finance minister told CNBC on Monday.

The new administration will raise value-added tax (VAT) and reintroduce capital gains taxes as it seeks to improve Sri Lanka’s finance outlook, Ravi Karunanayake told CNBC’s “Capital Connection.”

“We want to tax the top end of [the consumer], which basically consumes, rather than the downtrodden,” Karunanayake said, calling it a necessary measure to achieve fiscal consolidation.

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