Fraud and corruption led to economic downturn, says Ravi

Finance minister Ravi karunanayke said that the wrong economic policies by the previous government embedded with corruption and frauds  resulted in the continuous deterioration of the government revenue and the agro based economy as well. 

Therefore the minister concluded that the people who rejected the Mahinda Rajapaksa government for its wrong doings and corrupt practices in the January 08 election will reject them once again on August 17.

“The excise revenue alone has increased by Rs 6000 million per month, as the new government has completely blocked the illegal import of ethanol,” the Finance Minister Ravi Karunanayake said in a statement today (2).

The Minister of Finance Ravi Karunanayake elaborating on the economic performances of the new government said that the reforms and good management practices brought in to the public sector   the government revenue has increased to Rs 285.6 billion in the first quarter of 2015 from 245.2 billion recorded during the corresponding period in 2014.

karunanayake also emphasized  that the new government under the UPFA leader Maithripala Sirisena and the Prime Minister Ranil Wickremasinghe  has neither halted nor terminated any development projects in the country. The treasury has already released Rs 11900 million rupees to continue the ongoing projects at district level. Of which Rs 9000 million was paid for the projects that were completed.