Dec 06, 2018

Whole country in crisis: warning by economic analysts Featured

Economic analysts warn that the country’s economy is sliding due to the political turmoil in the country.

However, they claim that the attention of those responsible has still not been focussed on this issue. 

According to senior political science lecturer at the Sri Jayawardenapura University Terence Purasinghe, this situation has arisen due to power hunger.

“Foreign investment, foreign grants, foreign loans, tourist arrivals etc have all come to a standstill and the stock market has crashed. So far a budget document has not been passed and by January there will certain arise an issue regarding the government expenditure. This is the level of economic crisis that the country has been plunged into and all this is due to power hunger,” he said.

Dr. Suranga Silva of the Colombo University Economics Division had told ‘Neth News’ that if this instability continues any further, the country would have to face further pressure in the future.

“The country is currently in a complicated position where it is difficult for even an individual or institution to formulate a personal economic plan. Producers, distributors, consumers and all sectors have been affected by this crisis,” he noted.

“An immediate Presidential election must be called”

Dr. Suranga Silva said he was pleased to hear that the President had pledged to resolve this crisis in a week and expressed hope that it will happen.

However, according to Senior Lecturer Terence Purasinghe, if this political complexity is to be resolved, then a Presidential election should be held immediately.

Maithree 670px 13 11 18Development activities to continue – President assuresMeanwhile, President Maithripala Sirisena said that the country’s development or the people’s welfare should not be stalled at any cost.

The President said this at a discussion held at the Presidential Secretariat yesterday (05). 

The President had instructed the officials to utilise the funds allocated for the relevant year and provide the services intended for the people including the new proposals for the new year.

He told the officials not to be affected by the political unrest in the country and work committedly towards the public service and development activities without any hindrance.

The President also noted that all projects aimed at public welfare implemented by the Presidential Secretariat under his guidance would continue with new vigour in the coming year 2019.