Economic crisis looms

economic sancationsSri Lanka Communist Party General Secretary DEW Gunasekera yesterday said that an economic crisis is looming and the government will have to present another budget very soon.

Gunasekera said that the intellectuals, Parliamentarians, Ministers and the media do not adequately bring these matters into discussion.

He said that a number of crisis are surfacing and the economic crisis is the foremost. Addressing a press conference at Dr. N. M Perera Centre in Colombo, Gunasekera added that “The representatives of World Bank and Internaitonal Monetary Fund who called on our leaders have apprised them that the state revenue of the country is dwindling.

They have identified that Sri Lanka is one of the countries that posts the lowest state revenue,”he said.

Gunasekera added that state revenue accrued from tax and non tax avenues is very low in the Asian contingent and the world.

“When the UNP took over the country in 1977, the state revenue surpassed 24 per cent and the state revenue has dropped to 10 per cent at present,” he said.

He said that the low strata of the society is always affected whenever state revenue is on the decrease.

“Social welfare measures including free health service and education get affected when the state revenue is dwindling,” he said. Speaking about the Local Government election, Gunasekera added that the government cannot postpone this election as laws and regulations with regard to election have been passed in Parliament.

“The government is in the habit of postponing the election citing the delimitation process,” he said. (Daily News)

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