We have to accept the fact that the government has failed: Amaraweera

Date:

The Sri Lankan Rupee is continuously being depreciated against the US Dollar and the government has failed to control the situation, said Environment Minister Mahinda Amaraweera.

Pointing out that many ongoing crises in the country are due to the Rupee’s depreciation and the dollar deficit, Amaraweera added that the government, despite any defensive speech, has failed to solve the matter. This fact alone should be embraced, he said in a controversial statement.

There are approximately Rs. 17,200 billion in foreign debt, Amaraweera went on, adding that the amount of debts obtained in the past and the debts due to be obtained will contribute to a soaring figure in the future.

Accordingly, the per capita debt of the people of this country could be close to over Rs. 800,000, he warned.

The Environment Minister further added that all the leaders who were in power since 1977 should be responsible for this debt crisis, for they continued to mortgage the people and obtain debts instead of strengthening the country’s economy.

MIAP

Share post:

spot_imgspot_img

Popular

More like this
Related

BOI Firms Warn of Heavy Losses from Palm Oil Import Ban

Sri Lanka’s palm oil based industry, once a promising...

UN Flags Sri Lanka’s Slow Progress on Enforced Disappearances

The United Nations Committee on Enforced Disappearances (CED) has...

Sri Lanka Tourism Surges: October Arrivals Break New Records

Sri Lanka’s tourism industry has entered October on a...

Banking Sector Assets Expand 14.9% amid Profit Surge and Lower Defaults

Sri Lanka’s banking sector displayed renewed resilience in the...