A man holds his bag on his head as he walks through a market in Colombo October 24, 2014. Sri Lankan President Mahinda Rajapaksa, who is expected to soon seek a third six-year term, announced a 2015 budget on Friday that trims the value-added tax and reduces the budget deficit while providing a range of handouts, mainly to rural residents. The president also announced that employers' contribution to employees' provident funds will be raised to 14 percent of pay, from the current 12 percent, which would raise labour costs for the private sector. REUTERS/Dinuka Liyanawatte (SRI LANKA - Tags: BUSINESS SOCIETY POLITICS)