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Leading News from Sri Lanka::

* Opposition Leader expresses concerns over Sri Lanka's staggering debt, questions development expenditures
Mon, Dec 23, 2013, 10:10 pm SL Time, ColomboPage News Desk, Sri Lanka.

Dec 23, Colombo: Leader of Sri Lanka's main opposition United National Party (UNP) Ranil Wickremasinghe today expressed concerns over the country's staggering debate and questioned the government's expenses on infrastructure development.

Addressing an event at the party headquarters Sirikotha today, Wickremasinghe said the increase in government borrowings has pushed the country into a debt trap and there are doubts over the monies spent on development work.

Wickremasinghe said that this government's foreign borrowings since 2009 far exceed the monies borrowed by all the government since independence till 2005.

He claimed that the total government debt under President Rajapaksa's administration from 2005 - 2013 was Rs.4.8 trillion while Sri Lanka's total borrowings between the period of 1948 and 2005 were only Rs.1.8 trillion.

He noted that the government debts between 2005 and 2013 amounted to Rs.6.8 trillion while there were doubts over the monies spent on development projects, especially where more than Rs.1 billion was spent on constructing a kilometer of main roads.

Wickremasinghe has further noted that despite expectations by public and private sector employees to receive more money into their hands through salary increments, the government will not grant such relief and the people will have to continue to battle for their survival.

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