SL economy plunges to crisis level: JO

7 March 2017 04:38 pm - 12 - {{hitsCtrl.values.hits}}

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Sri Lanka’s current economic situation is identical to that which led to the economic collapse in Greece, the joint opposition said today.

SLPP Chairman G.L. Peiris said the country’s economy was breaking upwith investors beginning to withdraw their investments.

“The well-known ‘Templeton fund’ has withdrawn US$1,475 million during a period of 14 months with US$ 475 being withdrawn within the past two months. This is only one example of what’s happening as a result of investors losing faith in the country’s economy,” he said.

Furthering, Prof. Peiris said that by next week US dollar value would rise up to Rs.170 causing the rupee depreciation. (Thilanka Kanakarathna)

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Comments - 12

Lal Tuesday, 07 March 2017 07:12 PM

we have been saying this for decades! Greece debt crisis was because of taking loans for show off projects like MR did. Economists agree that under current govt economy has improved

Shelly. Tuesday, 07 March 2017 07:20 PM

According to you PROF you are successfull in chasing out all foreign investors by doing the best as a responsible opposition. Congrtulations. via DM Android App

Amir Tuesday, 07 March 2017 07:44 PM

Yes, Professor we all know about it. Do you know how to overcome this. People are pointing the fingers to the pervious government. Do you accept that or do you want to put the blame on MS-RW? Tell us the truth.

Kadiya Tuesday, 07 March 2017 07:57 PM

Thanks to you guys!!!!!

Sara Tuesday, 07 March 2017 08:21 PM

Why don't you appoint a committee for what you are famous for ?

suren Wednesday, 08 March 2017 07:15 AM

Last 2 years economy has gone backwards so much-rupee and the FDI disaster and bond scam etc etc etcwe are going down quickly

Ganesh Wednesday, 08 March 2017 07:15 AM

What do you know about economics being professor of law ipso facto you had been appointed finance minister by Madam Chandrika which was not correct

Kiris Baba Amaray Wednesday, 08 March 2017 10:15 AM

Mahinda got loans on huge commissions and developed his family not the country.

Arnold Wednesday, 08 March 2017 10:46 AM

Investors look for social and economic stability and also for big international names who are in the country before bringing in their money.

T. Ranger Wednesday, 08 March 2017 12:48 PM

Here he goes again, the Prof. with the big mouth. Will someone please shut him up - period.

Mason Wednesday, 08 March 2017 01:11 PM

Agricultural Minister Duminda Dissanayake should be made aware that the country's economy has plunged to crisis level. He seems quite content spending Rupees 21 million monthly of the tax payers money for no purpose.

vimal Wednesday, 08 March 2017 11:37 PM

where was he when greek bonds were bought by central bank. via DM Android App

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SL economy plunges to crisis level: JO

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