Turkish, Iranian economic crises may affect SL: PM

18 August 2018 10:45 am - 13     - {{hitsCtrl.values.hits}}

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Fresh moves by the United States to impose sanctions on Turkey and the impending economic crisis in Iran may affect Sri Lanka as well, Prime Minister Ranil Wickremesinghe said yesterday.

He said this at the opening of the Deviduragama Udagama in Moneragala.

“Economic crises in Turkey and Iran may affect Sri Lanka and as such we should be prepared to face any such calamity,” the Prime Minister said while referring to the foreign media reports that the US will impose sanctions on Turkey shortly and the warnings given by the international economic experts that Iranian was on the verge of an economic crisis.

However, the Prime Minister was optimistic that Sri Lanka would resolve its debt crisis by 2025. “Government revenue was hardly sufficient to meet debt servicing when this government took over in 2015 but now debt servicing had dropped to 70 per cent of the GDP. We hope to bring it down to between 60 and 55 per cent of the GDP by 2025,” he said.

"The previous regime decided to hold elections because it could not manage debt servicing. “It may have thought that Sri Lanka would become another Greece. The opposition also thought that this government will be caught up in a crisis. However we have managed to steady the economy despite difficulties. We had no choice but to go for a standby arrangement with the IMF but we have steadied the economy now,” he said. (Yohan Perera)

  Comments - 13

  • sach Saturday, 18 August 2018 11:28 AM

    excuses excuses...nothing affected like the yahapalanaya

    Piyumi Fernando Saturday, 18 August 2018 11:40 AM

    Don't we have our own economic crisis thanks to you and your buddy Mahendran?

    Zuh Saturday, 18 August 2018 02:42 PM

    Our economy is always in crisis, because of our useless politicians and rulers, so now we are used to it.

    sHeHaN Saturday, 18 August 2018 03:00 PM

    From 2015-18 you blamed MR for your inability to bring economic stability and all da mess SL is in, Now your blaming the Turks abd Iranians for your poor mismagament of SL economy. Simply you need to Blame. Your Self for this mess.

    ignorant Saturday, 18 August 2018 03:24 PM

    Always blame something else for the problems you can not solve.

    Tom jones Saturday, 18 August 2018 05:24 PM

    Please return the money u robbed from central bank bond. Your good friend Arjun Mahendra can help u. You won’t be living in 2025 . Get lost.

    sss Saturday, 18 August 2018 05:32 PM

    Just like happened to your mentor, JR uthumananwahansey, the West is screwing you

    Supun Saturday, 18 August 2018 05:51 PM

    Dear friends...Sri Lanka doesn't have an economy. It only has a hell of debts. So one country's economy doesn't affect to us much. These are just excuses for his inability.

    Saman Saturday, 18 August 2018 06:11 PM

    Buckle up guys ... another price hike on the way.

    Upul Gunawardena Saturday, 18 August 2018 06:14 PM

    We already have an economic crisis thanks to the politicians. So, RW, please do not blame others for digging our own grave.

    observer Saturday, 18 August 2018 06:41 PM

    What about the problem you created regards to the cb bond scam and why you are not stating issue here

    upali Saturday, 18 August 2018 07:03 PM

    Please don't capitalize the situation to increase tax or increase cost of goods. Inability of Jahapalanaya is the route course.

    Gihan Monday, 20 August 2018 08:00 AM

    Take all the perks away from MPs and ministers, ask them to travel on public transport and pay rent for their grace and favour accommodation. This will save a shed load of cash for a start!


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