President Ranil responds to Anura Kumara’s challenge to a debate

President Ranil Wickremesinghe has emphasized that Anura Kumara Dissanayake, who had avoided answering his question about whether the NPP’s economic policy is export- or import-oriented, was now inviting him to a debate.

The President further suggested that Anura, Sunil Handunnetti, and Harshana Suriyapperuma first hold a separate debate to clarify the NPP’s proper economic policy to the nation before debating with him.

The President also mentioned that, as previously discussed, a time could be set for a video discussion with Anura, himself, and the International Monetary Fund (IMF) Managing Director. He joked that even though Sajith does not allow others to speak, he too could be invited to the discussion.

President  Wickremesinghe made these remarks during a meeting held yesterday (10) with intellectuals and business leaders from the Kurunegala District at the Asliya Golden Cassandra Hotel in Kurunegala.

Additionally, the President questioned why Anura Kumara Dissanayake, in his policy statement, presented a budget with an expenditure of Rs. 8,900 billion and an income of Rs. 4,900 billion, creating a deficit of Rs. 4,000 billion, which would devastate the country’s economy.

The President emphasized that instead of making empty speeches and promises on stage, Anura should present a clear and proper economic policy to the country.

He stated that the government’s budget outlines future expenditures at Rs.6, 800 billion, with projected income at Rs.5, 100 billion, resulting in a budget deficit of Rs.1, 700 billion, or 5.2% of GDP. “We are confident in our capacity to manage this deficit effectively.”

He alleged that if the NPP delivers on its promises, the cost will be Rs.8, 900 billion and that they also propose tax concessions, which would reduce income to Rs.4, 900 billion. This would create a deficit of Rs.4, 000 billion, or 11.9% of GDP. Given these figures, it’s unclear how they plan to advance the economy, the President said.

Furthermore, he warned that if Sri Lanka breaches its agreements with the IMF and seek funds from the market, the interest rate could soar to 25%. “This could result in the value of the dollar rising to Rs.500, and we’d lose IMF support due to the violation of our agreements, potentially leading to an economic collapse.”

He emphasized that in order to strengthen the country’s economy, Sri Lanka needs to focus on developing an export driven economy and that this is their stance.

Recently, Anura Kumara Dissanayake also mentioned in Kelaniya that his approach includes an export-oriented strategy, the President said.

“However, his policy statement proposes abolishing free trade agreements. It is challenging to advance an export economy without these agreements, as they facilitate the export of goods,” he cautioned. 

Wickremesinghe charged that when his government introduced the Economic Transformation Act, the NPP’s Sunil Sunil Handunnetti and Harshana Suriyapperuma filed a lawsuit claiming that the export economy was unconstitutional.

“I saw, Anura has invited me to a debate in Anamaduwa, but how can I participate without knowing whether their economic strategy focuses on export or import?” 

Therefore, the President proposed a debate among Anura Dissanayake, Sunil Handunnetti, and Harshana Suriyapperuma to “clarify whether their economic policy is geared towards an export economy or an import economy.” 

Once this is clarified, the President said he is willing to arrange a video discussion with Anura Kumara Dissanayake and the Managing Director of the IMF with myself, as he had mentioned earlier. “I am prepared to make this happen.”

“If needed, we should also invite Sajith Premadasa. However, it’s worth noting that when Sajith speaks, the Managing Director of the IMF often doesn’t get a chance to address the audience. Nevertheless, let’s extend the invitation to Sajith,” he jested.

Wickremesinghe reiterated that Anura Kumara should clarify whether his economic policy favours an export-oriented economy or an import-driven one. “I am questioning Anura Dissanayake on why those who have contributed to economic mismanagement and national bankruptcy are being given financial support.”

Therefore, he urged Anura Kumara Dissanayake to present a clear and viable economic policy, rather than just making speeches from the platform.