Country in a grave financial crisis?
August 20, 2019 11:31 am
Every presidential candidate must explain steps they will take to resolve the existing state financial crisis in the country, states Minister of Megapolis and Western Development Patali Champika Ranwaka.
He mentioned this speaking at ‘Jathika Maga’ seminar held at the Panadura Town Hall yesterday (19).
He says that all presidential candidates are moving forward without understanding the state financial crisis prevailing in the country.
According to the Minister, the state treasury has only earned an income of Rs 894 billion in the first 6 months of this year. However, Rs 1,100 billion had to be paid as debt service, he added. Ranawaka points out that the country is short of Rs 206 billion even after the debt and interest are paid off.
He says if a country needs to obtain 8% loans from the International Financial Market to pay off state employees’ wages, the country cannot go a long way.
The country has entered into a grave state financial crisis, stated Minister Ranawaka.
Stating that the country needs a trustworthy plan to run the country without going bankrupt, Patali Champika Ranwaka said that the presidential candidates must show how they will resolve this crisis alongside their promises.
