United National Party (UNP) Chairman and former Minister Vajira Abeywardena has criticised the Government’s 2027 Budget, claiming it fails to address the country’s major economic challenges or provide meaningful relief to the public.
Speaking at the UNP political office on Flower Road in Colombo, Abeywardena said the Budget lacked proposals to secure better opportunities for young people, particularly Millennials and Generation Z.
He argued that while other countries were rapidly advancing through technology, Sri Lanka was falling behind, with insufficient plans to create technology-based employment opportunities for younger generations.
Abeywardena also raised concerns about the country’s future debt obligations, claiming that Sri Lanka would need to increase its foreign reserves to USD 13 billion by 2028.
He further claimed that the country would face debt repayments of between USD 3.5 billion and USD 4 billion to international institutions by that year, questioning how the Government planned to meet these obligations.
The former Minister also questioned the Government’s approach to the International Monetary Fund (IMF) programme. He claimed that appointing a new committee to oversee related matters indicated divisions within the administration.
Addressing the cost of living, Abeywardena said many public sector employees were facing financial difficulties, with some spending nearly 60% of their salaries on loan repayments.
He also claimed that ordinary citizens were pawning jewellery and other valuables to meet daily expenses, while some had lost their pledged possessions because they were unable to repay their loans.
According to Abeywardena, the Budget had failed to introduce meaningful measures to help financially struggling families recover.
He defended the economic policies implemented under former President Ranil Wickremesinghe, claiming they had helped stabilise the country following the economic crisis.
The UNP Chairman argued that the current administration had failed to present a clear economic vision or strategy to sustain the country’s recovery.
