Inflation could increase due to the relief package – Dew Gunasekara

Date:

The Leader of the Communist Party of Sri Lanka Dew Gunasekera says that the Minister of Finance’s relief package includes the payment of an allowance of Rs. 5,000 to public servants seems to be a political decision rather than an economic action.

He said that Rs. 229 billion was needed to provide the relief package and that inflation would inevitably rise further if the money was raised through printing. Gunasekera points out that if the relief package had been incorporated into the manufacturing process of the country, inflation would not have increased in any way.

Gunasekera points out that Sri Lanka has never had to face such a dollar crisis in its history and that if money is to be printed, it must be done in a way that does not increase inflation. He also emphasized that if inflation rises, the currency notes printed will have no value.

Share post:

spot_imgspot_img

Popular

More like this
Related

European Parliament appraises SL President’s pledge to decriminalise same-sex conduct between adults

European Parliament appraises SL President's pledge to decriminalise same-sex conduct between adults

Govt Reconsiders Minimum Wage Policy for Migrant Workers Amid Rising Concerns Over Exploitation

The Sri Lankan government is reassessing the possibility of reintroducing...

Sri Lanka Charts Reform Path at High-Level IMF Conference

The Central Bank of Sri Lanka (CBSL), in collaboration...

Sri Lanka Pushes for Regional Aviation Alliances and Airport Expansion

Sri Lanka is ramping up its efforts to transform...