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President defends Budget 2025 as best path forward despite concerns
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Anura Kumara Dissanayake |
President Anura Kumara Dissanayake yesterday stood by the proposals in his maiden budget, insisting that it is the most practical course of action, given Sri Lanka’s economic realities.
With the country reeling from years of economic mismanagement, Dissanayake stressed the need for a carefully structured financial plan to restore stability and drive growth.
While the initial reactions to the budget were largely positive across society and the business community, a closer examination over the past two days has raised concerns. Some targets have been noted to be overly ambitious, sparking debate over their feasibility. Speaking at a post-budget forum, Dissanayake reiterated confidence in his administration’s vision, emphasising that the budget, the first under the National People’s Power (NPP) government, has been designed to drive inclusive growth.
A key focus of Budget 2025 is expanding economic activity beyond urban centres, integrating rural communities as stakeholders in national development.
Acknowledging Sri Lanka’s position under the International Monetary Fund programme, Dissanayake described Budget 2025 as a foundation for a stronger, more stable economy.
“Either we have to build on this foundation and pillars or collapse with them altogether. If we go with our emotions, we will definitely collapse. So, our intention is to remain within this framework and look at the way forward,” he said in a recording sent by the President’s Media Division.
Dissanayake further noted that the government aims to leverage the three-year debt moratorium secured through debt restructuring and implement effective economic management to restore debt repayment capacity by 2028.
While many nations have taken decades to recover from bankruptcy, he pointed out that Sri Lanka is determined to achieve a much faster turnaround.
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