Lankapage Logo CP 22 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to

Leading News from Sri Lanka::

* Sri Lanka President warns of falling into crisis again if government programs disrupted
Sat, Jan 28, 2023, 09:07 pm SL Time, ColomboPage News Desk, Sri Lanka.

Jan 28, Colombo: Sri Lanka’s President Ranil Wickremesinghe warns that the country slowly recovering from the economic crisis will fall into a crisis again similar to the situation last year, if the economic and agricultural programs implemented by the government and the debt restructuring program according to the IMF are disrupted.

“If we move away from these programs, the country will return to the situation it was in May, June and July last year. If that happens, we will have to face another crisis,” the President said speaking at an event in Anuradhapura.

The President was speaking at a ceremony held this evening (Jan 28) at Sri Maha Bodhiya in Anuradhapura‘ to present Aktha Pathra’ (credentials) to the new Atamasthanadhipathi, Most Ven. Dr. Pallegama Hemarathana Nayaka Thero.

The President said his aim is to build a debt-free economy in the next 05-10 years where people can live with pride dignity without bowing down to anyone just as a strong economy was built in the Anuradhapura era.

Speaking about the new taxes, the President pointed out that tax concessions granted in 2020, which reduced the 1.6 million income tax, VAT and national development tax files that existed in 2019 to around 400,000 and reduced the government revenues, was the main cause for the economic crisis.

The Head of State said the economic growth rate which was negative 11% in 2022 may be negative 3.5 or negative 4.0% this year and pledged to lead the country's economy to positive growth from the year 2024.

The President also mentioned that if the income situation of the country stabilizes and there is economic progress, in the third quarter of this year, the government expects to give more allowance to all government employees in the third quarter of this year as a relief.


ColomboPage - Recent 10 Stories ::
Sri Lanka secures Rs. 20 billion from ADB for rural road renovations
-- [3 hours ago]
Seylan Bank honored for innovative and purposeful ‘Best in Country’ and ‘Best Small Budget Campaigns’ at Dragons of Asia Awards 2023
-- [3 hours ago]
John Keells Group’s Start-Up-Cycle concludes with Demo Day.
-- [3 hours ago]
Sri Lanka’s Colombo-based inflation rises to 3.4 percent in November 2023
-- [3 hours ago]
At least 30 injured in bus accident in Welikanda
Seylan Cards and Halo flights present return air tickets to the winner of September’s Swipe and Win draw
Thank You and Goodbye
COPF requests Finance Ministry to reconsider VAT exemptions for medical equipment, agricultural items, children’s foods
Sports Minister instructs to move State Ministry of Sports out of WTC saving Rs 4.2 million monthly
PM says sub-committee will be appointed to amend the local government laws to suit the current situation

Copyright © 2000, 2020 by (LLC) :
The news and other contents on ColomboPage are copyrighted property of, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.