Former Deputy Leader of the United National Party (UNP) and Member of Parliament Ravi Karunanayake said that while increasing foreign exchange reserves is essential for meeting Sri Lanka’s debt obligations, remittances from overseas workers and the tourism industry alone cannot provide a sufficient solution.
Speaking at a media briefing, Karunanayake said remittances and tourism are important sources of foreign exchange, but Sri Lanka must place greater emphasis on increasing exports to strengthen its foreign exchange earnings.
He also noted that the ongoing situation in the Middle East could disrupt air travel and potentially affect tourist arrivals, creating further uncertainty for the tourism sector.
Against this backdrop, Karunanayake stressed the importance of expanding exports and strengthening domestic economic activity to support GDP growth and improve the country’s ability to meet its external debt obligations.
