Imports outpace exports, FLSP challenges President’s forex stability claim

9 November 2025 04:17 pm Views - {{hitsCtrl.values.hits}} 10 Bookmark

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Colombo, Nov. 9 (Daily Mirror) - Sri Lanka’s imports have grown in excess of its export earnings, widening the balance of payments deficit ,and therefore, President Anura Kumara Dissanayake’s claim of stability in foreign exchange flows holds no water, Frontline Socialist Party (FLSP) Education Secretary Pubudu Jayagoda said.

Delivering remarks on the 2026 Budget at a recent public seminar, he said expenditure on imports had increased by 12.2 percent during the first nine months of this year compared with the corresponding period of last year, while export earnings had grown only by 7.3 percent, according to Finance Ministry statistics.

“The President ruled out a foreign exchange crisis in his speech. Yet, he is far removed from reality. It is the reality that is being concealed from the public,” he said.

Mr. Jayagoda said that the vehicle import bill was the highest of all, with over US$1.2 billion being spent.

“We campaigned against the removal of restrictions on vehicle imports. We said it would lead to a crisis,” he said.

Comments - 10

rbh Sunday, 09 November 2025 06:06 PM

Dr. Harsha appriceating the vehicle approch.

4 3

Hari Fernando Sunday, 09 November 2025 06:55 PM

So even after USD1.2bn cost on vehicle imports commencing this year, it is a win for the country that overall imports only increased by 12.2%. As this year it was due to pent up demand, next yea the country should expect vehicle import bill to decline compared to 2025.

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Guppi Sunday, 09 November 2025 07:23 PM

Who is this self-appointed representative of the people, the slappable mongoose who’s been living off a Mahapola Scholarship for ages, getting an education completely free, and surviving on taxpayers’ money? Don’t universities in Sri Lanka have a time limit for students / old men like these, who keep failing repeatedly? What a convenient way of living for cunning foxes like this! And why does the media even publish his statements? Pity I read it and wasted three minutes of my life typing this,. time I’ll never get back.

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Sambo Sunday, 09 November 2025 07:29 PM

Most of the expenditure is the import of vehicles.

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JeffK Sunday, 09 November 2025 08:38 PM

Foreign reserves have not grown from October last year because they are forcefully keeping the dollar at 300.

2 14

Passive Observer Sunday, 09 November 2025 09:22 PM

Raising the wages of estate workers is good but the question is can this NPP govt.really sustain it at the backdrop of countries like Kenya enticing Sri lankan

1 10

AKD Sunday, 09 November 2025 09:59 PM

They will import Tea from Kenya next.

1 22

RanjithT Monday, 10 November 2025 12:26 AM

CB report for JAN to SEPT records a UD$ 15.3 b imports against US$ 10.21b exports showing a trade deficit of US$ 5.1 b. Current account balance for September is negative US$ 182 million. Primary Account records a US$ 1.534 billion deficit. Reserves remain static at US$ 6.2 billion down from US$ 6.3 when RW handed it over to comrade AKD. Washingtons take note according to EFF agreement with IMF our reserves should meet the target of US$ 7 billion by end 25.The bottom line of 4 hours of flowery and fiery words by comrade did not say Rs 1.7 trillion budget deficit is financed by foreign and rupee non banking borrowings. Totally opposite to what comrades said before coming into power. Are the comrades on the right path for development?

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Suhada malli Monday, 10 November 2025 04:29 AM

Like politicians from the past, this new lit too is more keen to capture vote bases rather than develop the country. At a time when we need a growth focused production oriented policy supporting budget, the biggest emphasis is to capture the estate workers voter base which did not vote convincingly for the NPP. Easter attack helped npp capture catholic voters, covid burial fiasco helped with Muslim votes and now the estate workers. No real system change yet.

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Jude Monday, 10 November 2025 08:54 AM

I wonder where he obtained degrees in finance and economics!???

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