The Association of Chartered Certified Accountants (ACCA) Sri Lanka recently submitted its comprehensive proposals for the 2025 National Budget to Deputy Minister of Finance, Dr. Harshana Sooriyapperuma.
Titled ‘From Recovery to Sustainability – Crafting Sri Lanka’s Economic Blueprint for 2025,’ the proposals prioritize sustainable economic growth, public welfare enhancement, and fiscal responsibility amidst Sri Lanka’s ongoing economic challenges.
Sashi Jayakody, Chair of the ACCA National Initiatives Sub-Committee, stated: “The proposals were crafted through in-depth analysis and collaboration with key industry stakeholders. This rigorous process involved reviewing Sri Lanka’s economic priorities, incorporating contributions from experts, ACCA members, and past Chairs to align with principles of good governance, transparency, and fairness.”
The ACCA proposals focus on ten key priorities to address immediate economic concerns and long-term structural issues. Highlights include establishing a Budget Monitoring Unit, implementing tax reforms, and fostering a fair and transparent government procurement process. Emphasis is also placed on accelerating digital transformation, increasing research and development investments, and improving education quality. Other recommendations include revamping SME support, rationalising government expenditure, enhancing foreign investment, and streamlining institutions to support entrepreneurs.
Chaaminda Kumarasiri, ACCA Chairman, remarked: “We believe these recommendations address immediate economic challenges while paving the way for sustainable growth. With transparency, efficiency, innovation, and sustainable business practices at the core, ACCA is ready to collaborate with the Government to implement these proposals. By leveraging our global expertise, we aim to deliver actionable outcomes.”
Dr. Harshana Sooriyapperuma acknowledged the significance of ACCA’s contribution, recognising the value of professional collaborations in shaping a resilient and inclusive economic future for Sri Lanka. He underscored the importance of expert input in crafting policies that ensure long-term prosperity.
Nilusha Ranasinghe, ACCA Head of South Asia, added: “ACCA has continually engaged with stakeholders to support national initiatives and produce world-class professionals. These budget proposals further reinforce the role of professional collaboration in shaping effective fiscal policies and building a resilient economy that serves all citizens.”
ACCA reiterated its commitment to driving sustainable growth and collaborating with the Government to turn these proposals into practical steps. By presenting a comprehensive approach, ACCA aims to support Sri Lanka’s economic recovery, resilience, and long-term prosperity.