President Ranil Wickremesinghe has stated that the country’s economy cannot afford the release of funds on an ad hoc basis, owing to its ongoing economic crisis.

Taking to Twitter, the Head of State said “We are facing an economic crisis, and we need to plan our spending carefully. Budgets are made for the whole year, so we can’t release funds on an ad hoc basis. We have to keep a reserve in case the IMF funds for which we are negotiating aren’t received in March”.

Speaking on current controversies surrounding the 2023 Local Government (LG) election, Wickremesinghe stated that they are yet to receive proper clarity on the costs incurred for the polls, as the estimated amounts and those requested do not tally.

“EC estimated it at Rs. 10B but requested 6B. The police have requested higher than the estimates”, he said, adding that the Finance Ministry has been instructed to study these discrepancies and submit an accurate budget.

Moreover, the Prime Minister has also been instructed to take the necessary measures to appoint a  Select Committee Inquiry into who is responsible for ‘destroying the economy’ by the third week of March.

“The economy is my top priority. We will not have a country if the economy does not develop”, the President emphasised, adding that the constitution may be protected only if the country is protected.