SL facing risk of becoming the country with highest inflation rate: Ruwan

Sri Lanka is facing the risk of becoming the country with the highest inflation rate, UNP Deputy Leader Ruwan Wijewardene said yesterday.

Speaking during a meeting held at his office in Union place, Mr. Wijewardene said Sri Lanka is currently the nation with third highest inflation rate in the world as per the global inflation index. “Only Zimbabwe and Lebanon are higher than Sri Lanka. Sri Lanka is running a risk of reaching the top of the index,” Mr. Wijewardene said.

“It is expected that the price of a gas cylinder will increase up to Rs 5000, the price of rice has exceeded Rs 200 a kilogram, and the price of dhal has exceeded Rs 500. In addition, the price of petrol has exceeded Rs 300 for the first time in history and diesel Rs 289 per litre. Bus fares have also increased,” he added.

“The present government blames the previous government for the excess borrowing. However we had to borrow to settle the borrowings made by the Rajapaksa regime before 2015. More than 80 percent of the borrowings during our time were used to settle loans taken during the previous Rajapaksa regime. We were able to use only 20 percent of the borrowings during our time,” he also said.

He said former Prime Minister Ranil Wickremesinghe will be able to resolve the present economic crisis if he becomes the President of this country. (Yohan Perera)