Former Deputy Leader of the United National Party (UNP) and Member of Parliament Ravi Karunanayake said that while the Central Bank has stated that it intends to increase Sri Lanka’s foreign reserves, the country needs to see clear figures rather than relying on statements alone.
Speaking to the media, Karunanayake said there is broad agreement among economic experts that immediate measures are needed to strengthen the Sri Lankan rupee.
He said Sri Lanka should focus on expanding the economy rather than relying solely on fiscal measures aimed at controlling inflation.
Karunanayake also pointed out that the national debt had increased from Rs. 28.2 trillion in September 2024 to Rs. 33.6 trillion as of September 15 this year.
He stressed that borrowing itself is not necessarily the problem, but loans should be obtained in a way that enables the country to repay them through revenue generated from national investments.
