Former UNP Deputy Leader, MP Ravi Karunanayake, has highlighted the economic toll of natural disasters on Sri Lanka, noting that the annual damage amounts to approximately 1.5% of the country’s GDP.
Speaking to the media, MP Karunanayake pointed out that while these costs are not included in the national budget, they remain a significant financial burden on the government.
He emphasized the need for a national insurance program to mitigate the economic impact of natural disasters. “Such a program was introduced under the UNP-led government in 2015, but subsequent administrations abolished it,” he said.
The MP called for the reinstatement of a national insurance scheme to ensure that the country is better prepared to handle natural disasters and their economic consequences.
