Budget deficit to increase upto Rs 2.5 trillion : President should explain the fate of Sri Lanka’s economy: RW

• Emphasizses importance of experienced members in Parliament to manage  economy effectively

By Yohan Perera   

Whilst highlighting that Sri Lanka’s economy is slated to stumble with a budget deficit of Rs 2.5 trillion if the new budget is introduced with new proposals of National People’s Power (NPP) government are implemented, former President Ranil Wickremesinghe yesterday said incumbent President Anura Kumara Dissanayake should inform the nation on the real situation.  

“President Dissanayake said on Saturday that his government will bring in its own proposals in the next budget after consulting with the IMF. However the situation seemed to have changed by Sunday. It was reported on Sunday that talks with IMF ended without a decision. According to our understanding the budget deficit would increase up to Rs 2.5 trillion if new proposals are carried out instead of what our government agreed upon with IMF. We don’t have to explain about the consequences if the budget deficit increases,” Mr. Wickremesinghe told a gathering in Athurugiriya.  

“President can correct me if I am wrong but he should explain on the true situation to the people. I did so during my tenure as President,” he added.  

“There should be experienced people in Parliament to deal with a turbulent economy,” he also said.  

Also Mr. Wickremesinghe recalled that his government was planning to maintain the budget deficit of Rs 1.3 billion by 2025.