Prime Minister Ranil Wickremesinghe today (23) met with representatives from the Chambers of Commerce, the Treasury and Economic Advisers to discuss a new budget and future economic plans.
During the meeting at the Prime Minister’s Office, the Prime Minister pointed out that a new budget would be presented which would significantly reduce capital expenditure.
He said the money saved would be used for welfare programs. The Prime Minister further explained that with the war in Ukraine, the country is facing a food shortage due to mismanagement of the local market.
This food shortage will affect not only Sri Lanka but also the global market.
He explained that the government was trying to minimize the impact of the shortages.
Recommendations were made to the Prime Minister that the process of distributing relief to the people should be digitized.
He agreed and stated that he would review the criteria for those eligible for welfare.
In addition, the Prime Minister stated that an economic policy framework that enshrines economic rights would be included in the Constitution.
He also proposed that the Treasury plan to undertake structural reforms based on a competitive social market economy that can achieve development goals.