SL economy plunges to crisis level: JO

7 March 2017 04:38 pm

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“The well-known ‘Templeton fund’ has withdrawn US$1,475 million during a period of 14 months with US$ 475 being withdrawn within the past two months.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)