Proposals where progress is unknown rises from 45% in the period between 2017-2021 to 70% in 2022-2023
The lack of transparency on the implementation progress of proposals in budget speeches has increased sharply in 2022 and 2023, according to a systematic evaluation conducted by Verité Research.
The government – on average – did not disclose information to assess the progress of 70% of the expenditure proposals in 2022 and 2023, up from 45% between 2017-2021. This means the information was not disclosed proactively online, nor in response to the right to information requests filed.
These findings are reported in Budget Promises, an online platform of Verité Research that has monitored the progress of high-value budget promises made by the ministers of finance since 2017. Failure to disclose information has been a problem every year. However, the level of opacity has substantially increased in 2022 and 2023. `
2023 mid-year review
Verité Research’s mid-year update shows that, as of June, the progress of 68% of the 25 highest-value proposals in the budget speech for 2023 cannot be assessed, due to the lack of information.
Information was available to assess the progress of 32% of proposals, but only 8% of these were on track and 24% demonstrated poor progress.
The total value of all 25 proposals tracked by Verité Research is LKR 49.3 billion. The value of proposals where progress remains unknown accounts for 97% of this value (LKR 47.7 billion)
Fiscal transparency and the IMF
The lack of fiscal transparency is a key factor that contributed to the present crisis and loss of credibility of the government, both at home and abroad. Several commitments made by the government in its agreement with the International Monetary Fund (IMF), and several recommendations made by the IMF in its latest governance diagnostic on Sri Lanka, highlight the importance of improving fiscal transparency.
The budget speech for 2024 will be made on 13 November. Greater transparency and accountability about the progress of budget proposals could help to address the concerns noted by the IMF, and in turn, improve Sri Lanka’s chances of a sustainable economic recovery.
Will the Budget 2024 move beyond mere promise-making to promise-keeping?
For information about the proposals tracked, responsible agencies and other findings, visit https://dashboards.publicfinance.lk/budget-promises/.
