No miracle behind current economic stability: AKD | Sri Lanka News

Claiming that the government has not performed any miracles to stabilise the economy to some extent at present, NPP MP Anura Kumara Dissanayake said today that the economy has become stable due to the economic contraction and ban on imports.

He told parliament that the claims by some saying that the economic decisions taken by the government had resulted in the current economic stability, were false and that it was the result of the economic contraction and ban on imports.

He said export revenue has not increased when compared to last year and that the tourism industry has also not increased remarkably as claimed.

“Export revenue has decreased by 11 percent from 2,196 million in January and February, 2022 to Rs. 1960 million this year for the first two months. The tourism industry has only recorded a 3 percent increase during the first three months of this year. Revenue from the tourism sector for the first three months of 2022 were Rs. 530 million while it was Rs. 514 million in 2022. The import expenses have decreased by 37 percent during the first two months of this year. Sugar imports have decreased by 55% and milk powder by 45%. Import of fruits has reduced by 52% and medicine by 27%,” he said and added that foreign remittances have increased by Rs. 631 million. 

He also said nonpayment of foreign loans has also resulted in the current economic stability where the government has not paid USD 2.8 billion in 2022 and USD 2.5 billion for the first four months of this year. 

“If we had paid this USD 5.3 billion, the rupee would have depreciated to more than Rs. 400,” he said.(Yohan Perera and Ajith Siriwardana)

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