Nov 03, Colombo: Sri Lanka's Marxist party Janatha Vimukthi Peramuna (JVP) says the government through its data has revealed that it spends the revenue generated by the country to repay loans and installments.
JVP politburo member, parliamentarian Anura Kumara Dissanayake told a news conference today that the government's Appropriation Bill for 2014 has shown that the estimated revenue is Rs. 1.542 trillion while the government plans to take loans amounting to Rs. 1.2 trillion.
"Therefore, the government spends the revenue on repaying loans and installments. The government uses monies taken through loans for day to day expense. In fact, the government cannot survive without loans," he said.
In 2012, the government has repaid loans amounting to Rs. 1.017 trillion, he added.
"When the government takes loans, the foreign agencies impose conditions and the government has to then follow them," Dissanayake pointed out.
He observed that the government should prepare the 2014 budget to meet the needs of the people and not a few members of the government.
He charged that a major portion of the 2014 budget has been allocated to the portfolios held by members of the first family and that 50 percent of the funds allocated to other ministries in the 2012 have not yet been given to the relevant ministries.