United National Party (UNP) MP and former Deputy Leader Ravi Karunanayake has raised questions about the repayment of Sri Lanka’s foreign debt using the Treasury surplus claimed by the current government.
Karunanayake said foreign debt accounts for around 35% of the country’s total debt of Rs. 95 trillion. He noted that if the Treasury surplus were used to settle these foreign debt obligations, the remaining debt burden would be around 11%.
He said this 11% level could be maintained under such circumstances, while noting that some statements made publicly by the government may be difficult to implement in practice.
Karunanayake also stressed that both revenue and expenditure must be carefully considered when preparing the national budget.
He said countries need to spend money for development, but the real measure of success is whether such expenditure generates revenue that exceeds the cost incurred.
Karunanayake made these remarks during an interview with Ceylon Wire.
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