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* Sri Lanka will face the global economic crisis successfully - PM
Sat, Sep 22, 2018, 10:59 pm SL Time, ColomboPage News Desk, Sri Lanka.

Sept 22, Colombo: Sri Lanka's Prime Minister Ranil Wickremesinghe says that the government is ready to successfully face the ongoing global economic crisis that has resulted from an increase in the value of the US dollar.

Participating in several functions in the Naththandiya area today, the Premier said the government's objective is to build a country with a strong economy for the future generations.

The Premier declared open the primary learning resource center at Lurdu Maha Vidyalaya, Naththandiya today. The Ministry of Education has spent Rs 3.83 million for the project to set up the resource center.

Later he arrived at Narawila Sri Gunaratne Maha Vidyalaya to open the learning resource center at the school. He also opened the resource center at the Walahapitiya Maha Vidyalaya in Naththandiya set up at a cost of Rs. 11 million.

Speaking at the occasion, the Prime Minister said the city and he village will be developed together and the present government is committed to provide a bright future for the children.

Expressing his views on the fuel price hike, the Premier said since the United States has imposed on Iran and Russia, oil cannot be obtained from the two countries and therefore the demand for the oil has risen and the oil prices have hence risen.

"On one side the demand for oil is increasing and on the other side, the value of dollar that is used to buy the oil is increasing. Therefore, the oil price is increasing two-fold. Because of the rising oil prices, the prices of other goods also rise. All economies including India, Pakistan, and Europe are paying for this, only the U.S. does not," he explained.

The value of the rupee against the US dollar has now become a main topic. The economic crisis between the powerful countries is the reason for the depreciating currency," he said.

The Prime Minister emphasized that the government will successfully face the global economic crisis in the same way it resolved the problems such as drought, high debt and interest.

 

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