Central Bank Governor Nandalal Weerasinghe says it is impossible for anyone to bring inflation below 30% – 40% in the next six months.
“There will be only a limited amount of economic activity in the country within the next three to six months. That means the economy is shrinking. Our forecast for this year is that the economy will shrink at a rate higher than any year we have ever experienced in history. No one can bring inflation below 30% – 40% in the next six months. This is an issue that severely affects the poor and vulnerable. Especially if the government does not provide assistance, it will be difficult for the low-income poor to live on their income. You will see poverty levels rising in this country. Most will fall below the poverty line. As the economy shrinks, more and more people will lose their jobs. This is because small and medium scale industries cannot function normally. ”
Nandalal Weerasinghe said this while participating in a discussion organized by the Press Club of the Sri Lanka Press Institute yesterday (25).