United National Party Deputy Leader Ravi Karunanayake has stated that it is not a mistake for the current government’s first budget to be prepared in line with the proposals of the International Monetary Fund (IMF).
Speaking at a media briefing yesterday, Karunanayake emphasized that the IMF has not imposed any harmful conditions on Sri Lanka. He clarified that the IMF’s two conditions are not negative for the country. One of these conditions pertains to limiting the government’s spending to only thirteen percent of the national income. For instance, if the national income is one hundred billion, spending is restricted to thirteen percent.
According to Karunanayake, this measure has helped establish financial discipline by enforcing spending limits. He stated, “I do not see anything wrong with the intervention of the International Monetary Fund.”
Recalling his time as Finance Minister, Karunanayake also shared an example of his own efforts, saying, “When I was the Finance Minister, I increased the interest rate on senior citizens’ savings to fifteen percent.”
