Former Deputy Leader of the United National Party, MP Ravi Karunanayake, has warned that safeguarding the Sri Lankan rupee is crucial in the country’s effort to recover from its ongoing economic crisis.
Speaking in Parliament, Karunanayake stated that failure to do so would only increase the national debt burden.
He emphasized the need to explore alternative avenues to boost government revenue, rather than relying primarily on vehicle imports and related taxes.
The MP revealed that from January 1 to May 20 this year, government revenue had fallen by 3% compared to projections, while government expenditure had risen by 22%.
Given this growing gap, Karunanayake stressed the urgent need to increase investment. “If we spend wisely today, it becomes an investment in the economy tomorrow,” he said.
