Minister Bandula Gunawardane Highlights President’s Economic Strategy as the Only Way Forward

Minister of Highways, Transport, and Mass Media Dr. Bandula Gunawardena, mentioned if anybody has any different options past this system initiated by President Ranil Wickremesinghe, he is able to discover such different avenues for Sri Lanka’s financial growth.

He emphasised the necessity for knowledgeable dialogue throughout varied media platforms.

Addressing issues over misinformation relating to public monetary administration, the minister pressured the inadequacy of mere rhetoric in addressing Sri Lanka’s financial challenges. He made these remarks throughout a press convention on the Presidential Media Middle, themed ‘Collective Path to a Steady Nation.’

Highlighting fiscal figures, Minister Gunawardena famous a state income of Rs. 3,201 billion in 2023, juxtaposed with expenditures of Rs. 4,394 billion on subsidies, salaries, and public debt.

Minister Gunawardane additional mentioned; 

“In his Throne speech, the President affirmed that Sri Lanka’s financial woes can’t be resolved by way of political means. The general public is effectively conscious of the financial disaster skilled in 2022. Presently, because of President Ranil Wickremesinghe’s initiatives, the nation’s economic system has made vital strides ahead.

Reviewing the earlier yr, whole tax income amounted to Rs. 3201 billion, sourced from varied departments together with the Inland Revenue Tax Division, Sri Lanka Customs, Excise Division, and Motor Automobile Division. Nonetheless, the Treasury’s expenditure surpassed this, reaching Rs. 4,394 billion.

Funds from subsidies, authorities loans, and salaries have been amassed for this objective, alongside Rs. 13,292 billion allotted for infrastructure growth. The effectiveness of President Wickremesinghe’s financial program is evidenced by constant gasoline provision, eradication of gasoline queues, cessation of electrical energy shortages, and well timed fee of presidency workers’ salaries.
Regardless of the origin or affiliation of these disseminating false narratives to realize energy, it’s crucial that these teams articulate their

methods for steering the nation out of its financial turmoil. Will they aim subsidy reductions, sort out public debt, or reevaluate authorities payroll allocations? Readability on these fronts is important for public transparency.

Teams just like the Janata Vimukthi Peramuna exhibit restricted understanding of public monetary administration and financial stability. Their observe report, notably within the Tissamaharama Pradeshiya Sabha, displays managerial shortcomings, prompting a shift in energy dynamics.

In 2003, then-Prime Minister Mr. Ranil Wickremesinghe proposed laws geared toward averting future financial crises in Sri Lanka. The invoice proposed measures reminiscent of sustaining a finances deficit of 5% of the gross home product and capping public debt at 60%. Nonetheless, subsequent administrations did not implement these laws, ensuing within the 2022 financial disaster. President Ranil Wickremesinghe efficiently navigated the nation out of this disaster and initiated measures to propel it ahead.”