• Says CB Governor was harping on contracting the economy as the only solution to the economic crisis

By Ajith Siriwardana and Yohan Perera 

National People’s Power (NPP) leader Anura Kumara Dissanayake said yesterday that people’s lives have been badly affected by the economic policies of the Central Bank.   Speaking during the second reading debate of the budget, he told Parliament that CB Governor Nandalal Weerasinghe was harping on contracting the economy as the only solution to the economic crisis. 

 “This has badly affected people’s lives. It does not mean that I approve Cabraal’s economic strategy. Weerasinghe’s economic strategy represents an extreme of an economic strategy, while Cabraal’s economic strategy represented an extreme of a different economic strategy. We need to identify the correct strategy,” he said. 

Mr. Dissanayake said contraction of the economy had lost a large number of jobs, imposed unbearable taxes including VAT, social security levy and payee tax and the brain drain had remarkably increased. 

He said even though Finance Minister Ranil Wickremesinghe criticized the economic policies adopted after 1977, he had proposed the same policies in his budget. 
“He has proposed to obtain Rs. 3 trillion of loans next year and to restructure state entities. No constructive proposal to revive the economy,” he said. 

Dissanayake proposed several moves to come out of the economic crisis which included proposals to obtain a new mandate, introduce a new constitution, ensure efficient state service, stopping fraud and corruption.   

• Even though Finance Minister Ranil Wickremesinghe criticized the economic policies adopted after 1977, he had proposed the same policies in his budget