Govt. debt up by Rs.836bn due to Rupee depreciation: PHU

17 May 2018 07:17 pm - 6     - {{hitsCtrl.values.hits}}


The Government’s debt had increased by Rs. 836 bn following the depreciation of the Sri Lankan Rupee against the US Dollar during the past 40 months, Pivithuru Hela Urumaya (PHU) leader and MP Udaya Gammanpila said today.

Addressing a news briefing, he said although the government always complained that the Rajapaksa Administration caused a huge debt crisis, it was created not be anybody but the incumbent government.

“In 2014, the total government debt was Rs. 7.4 trillion. By the end of 2017, it has increased to Rs.10.3 trillion. The government should explain as to how its debt increased by 39% within such a short period without implementing any significant development project,” Gammanpila said.

“When we handed over the government to the present leaders, the dollar was trading at Rs 131. It has now rocketed up to Rs 159. The total debt has been increased by Rs 836 billions during the last 40 months due to Rupee depreciation. If the government was able to save that amount, it would have built six ports similar to Hambantota Port,” Gammanpila added.

Meanwhile, he accused that the government had been yet unable to generate 1 million job opportunities as pledged at numerous occasions.

“According to the Central Bank annual report, it was only 4,405 jobs that have been generated in the last year. But in the Rajapaksa government, we were able to generate 55,942 jobs in 2014. If this government thinks to generate 4,405 jobs per year, it will take 227 years to fulfill its goal of 1 million job opportunities,” Gammanpila said. (Sheain Fernandopulle)

  Comments - 6

  • Ceylon Thursday, 17 May 2018 09:01 PM

    He talk about others grievancess but not talking his victims grievancess result of his famous is australian businessman case.

    Lankaboy Thursday, 17 May 2018 10:12 PM

    I am not an economist. if I am right, GOV need to spend it foreign reserve to keep rupee value stable. They have to see USD to maintain the value. So GOV would still lose money to maintain same value.. what this MONKEY is screaming here

    Prof.Arthur Bamunuarachchi Thursday, 17 May 2018 10:25 PM

    Dear Hon.Gaman,,Can you pl. tell the public how to many persons you have provided employments in systems under your purview, during your life time just up to today.Also how many people, that you would provide paid jobs during your next regime.Then I can calculate, the number of people for whom that all our MP's could provide paied employment.Pl. note the MP's can be Govt.side or other vise.RegardsArthur.B.

    p nonis Friday, 18 May 2018 09:06 AM

    Even If you come into the govern , you won't be able to do any donot stir up any more trouble and mislead the all are power hungry that's the reason behind all these statements to the news papers. which will eventually bring srilanka back to to squre one and to support a highly corruptive internationally unacceptable regime.and you will be made responsible like others who mislead people.

    Clifford Friday, 18 May 2018 12:27 PM

    Go and see yourself in front of a Mirror daily. At least then i hope that you will be able to understand whom you are ???

    Yeti Saturday, 19 May 2018 08:06 AM

    Move over Bandu and make room for Udaya!!!!!

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