Fri, 03 September 2010  07:25:11
Costly War 3 Comment(s)
10 Oct, 2007 14:01:37
Sri Lanka plans record defence spending
Oct 10, 2007 (AFP) - Sri Lanka plans to hike overall defence spending by 20 percent to a record 1.48 billion dollars amid a rise in fighting with Tamil Tiger rebels, according to a bill tabled in parliament on Wednesday.
Defence spending in calendar 2008 would total 166.44 billion rupees (1.48 billion dollars), up from an estimate of 139.4 billion rupees in 2007, the appropriation bill showed.

The defence spending amounts to nearly a fifth of total government expenditure estimated at 925 billion rupees (8.22 billion rupees) next year, the figures tabled in parliament showed.

The government is due to unveil new revenue proposals on November 7.

Thousands have died and many more have been displaced since the Liberation Tigers of Tamil Eelam (LTTE) launched a campaign for an independent state in 1972.

More than 5,500 people have been killed since December 2005, after a 2002 Norwegian brokered truce unravelled.
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READER COMMENT(S)
3. Sena Oct 11
Unfortunately our salaries havent gone up by even 15% from last year!
2. Jack Point Oct 11
You do have reason to be concerned!
The 20% increase is the overspend - ie excess over budget.

The increase in the budget was 100% from 70bn the previous year to 139bn last year.

1. Kanishke Oct 11
The 20% hike is in rupee terms. Given Sri Lanka's inflation rate of 17-20% over the last year, this hardly represents an actual real increase in spending.

For a moment there, I was about to get concerned!