During the Budget 2025 reading, President Anura Kumara Dissanayake stated that a Digital Economic Authority will be established with Sri Lanka transitioning into a cashless economy. The proposal also includes an LKR 3 billion investment towards digital investment.
Additionally, the president indicated that the Sri Lanka Unique Identity Project (Digital ID) will be a core part of the country’s digital economy future. Part of this means prioritizing security and trustworthiness. As such, the president stated that new laws will be introduced and existing ones will be strengthened with the aim of enhancing data privacy as well as facilitating a cashless economy.
“We will bring in new laws, but we will not disrupt the economy and gradually go for a cashless economy”
President Anura Kumara Dissanayake, Finance Minister, at the Budget 2025 reading
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