Sri Lanka approves 2012 budget, after shock devaluation

Newswire

COLOMBO, Nov 30 (Reuters) - Sri Lanka's parliament on Wednesday passed the 2012 budget with 151 votes for and 50 against, giving the nod to an overall increase in spending by 14 percent and a shock 3 percent currency devaluation that has already been put into effect. The budget reading last week was overshadowed by the president's announcement of a 3 percent currency devaluation during his presentation of the 2012 spending plan, which was implemented by the central bank the next day. The ...

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