Finance Minister Ali Sabry speaking in Parliament today (04) revealed that Sri Lanka’s foreign liquidity reserve is below US$ 50 million.
The country should have sought the assistance of the International Monetary Fund (IMF) earlier, the Minster confessed, adding that the government tax revenues have dropped to 8.7 per cent at present.
He added that it may take at least six months total for the country to enter a programme with the IMF.
Suggesting that the approved 2022 Budget is no longer realistic, Sabry revealed that the government is hoping to table a new budget in Parliament with increased income taxes introduced.
MIAP
