Sri Lanka achieved some stability on the surface level of the economy: President

By Ajith Siriwardana

Claiming that the government achieved some stability on the surface level of the economy, President Anura Kumara Dissanayake said yesterday the government will implement an economic policy framework aimed at addressing the deeper structural problems in the economy within this year. 
He said Sri Lanka was officially declared out of bankruptcy in the latter half of last year due to the immense efforts of officials from the Ministry of Finance, the Central Bank, and the political leadership.
“Economically, we recognise the severe challenges our nation has faced in recent years, leading to a state of near-collapse. Over the past year, we achieved some stability on the surface level of the economy and officially emerged from bankruptcy in the latter half of the year. This progress is owed to the immense efforts of officials from the Ministry of Finance, the Central Bank, and the political leadership. However, surface-level stability is not enough. This year, we will implement an economic policy framework aimed at addressing the deeper structural problems within our economy,” he said.
The President said this while speaking at the launch of the ‘Clean Sri Lanka initiative’ at the Presidential Secretariat last morning. He said the “Clean Sri Lanka” project goes beyond merely cleaning up the environment and that it aspires to restore the deeply eroded and deteriorated social and environmental fabric of the motherland. “We aim to create cleanliness and rejuvenation across all sectors of society,” he said.
The President said Sri Lanka has faced various security threats over the years and that the government can now assure the citizens of a robust and secure national defence.
“Last year, reports surfaced regarding a potential attack centred on Arugam Bay. Our police, intelligence services, and armed forces acted decisively to maintain the nation’s security and instil public trust. We have also begun systematically reinstating the rule of law, which had been neglected for far too long. In the past, criminals, corrupt individuals, and even political authorities operated above the law, disregarding constitutional principles. In some instances, former presidents were found guilty of constitutional violations by the Supreme Court. In such a context, the rule of law had become merely an abstract notion, he added.
President Dissanayake said the government is making significant efforts to re-establish and strengthen the rule of law adding that Sri Lanka has been plagued by widespread corruption, malpractice, and inefficiency within the state apparatus, political institutions, and society as a whole.
“Corruption has become a malignant cancer spreading throughout our nation, and eliminating it requires a tremendous collective effort. The Attorney General’s Department has a critical role to play in this endeavour, and I trust they will perform their duties with the necessary diligence and support. Similarly, institutions such as the Criminal Investigation Department and the judiciary bear the principal responsibility for transforming our country into one free from corruption and fraud,” he said.
“We believe these institutions will act with the dedication required to achieve this transformation. As political leaders, we are committed to setting an example through both our words and actions. However, leadership and intervention from the political sphere alone will not suffice. Relevant state institutions must understand their responsibilities and contribute actively to this process of change,” he said.
He called upon all relevant institutions and officials to provide their unwavering support and that this collective effort is vital for the transformative progress our nation needs in the coming year.