The Minister of Ports, Shipping, and Civil Aviation, Nimal Siripala de Silva, says the disbursement of the second installment of the loan provided under the Extended Fund Facility (EFF) of the International Monetary Fund (IMF) is expected to be received in December.

The lawmaker emphasized that the budget proposals outlined by President Ranil Wickremesinghe for the fiscal year 2024 mark the commencement of a comprehensive, long-term initiative aimed at the reconstruction of the national economy.

Minister de Silva articulated this perspective during a press briefing convened at the Presidential Media Centre (PMC) on Friday (Nov.17), under the theme ‘One Way to a Stable Country’.

In his extended remarks, the minister underscored the significance of the current budget, portraying it as the inception of a protracted initiative aimed at revitalizing the national economy, devoid of immediate profit considerations.

He emphasized that the budget intricately lays out essential programs and policies for this purpose. While some may label it as an election-oriented budget, the Minister clarified that it is not formulated with anticipation of impending elections but rather as a strategic economic framework.