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Government Fiscal Interventions
Allocated funds for various relief measures in millions of LKR.
Primary Sources
President urges public to cut fuel use and imports to control dollar ...
President Anura Kumara Dissanayake announced that Sri Lanka faces a severe crisis concerning the United States dollar, noting that the strengthening of the currency against other foreign units directly affected the value of the Sri Lankan rupee. Speaking at the "Ratama Ekata" national anti-narcotics programme in the Batticaloa district today, the President stated that the tourism industry, a primary source of dollar revenue, experienced a 29% decline in arrivals compared to April last year, significantly affecting foreign exchange earnings. He explained that the ongoing global economic crisis adversely impacted demand for Sri Lankan exports, reducing foreign exchange inflows, while overseas worker remittances also showed a decline this month.The President pointed out that the appreciation of the United States dollar substantially increased monthly expenditure on fuel imports, exerting additional pressure on the national economy. He stated that several measures are scheduled for implementation to address the crisis, emphasizing that the economy currently operates under management in accordance with the Extended Fund Facility programme established with the International Monetary Fund. According to the President, the Government continuously engages with the International Monetary Fund by presenting and discussing proposals aimed at stabilizing the economy and mitigating financial pressures. Highlighting the urgent need to manage the growing pressure on the dollar, President Dissanayake stressed that fuel consumption must be reduced and that the public should exercise greater caution regarding the consumption of imported goods, calling upon citizens to act responsibly at an individual level to minimize foreign currency outflows.
President urges reduced consumption of fuel and imported ... - Adaderana
President Anura Kumara Dissanayake stated that Sri Lanka is currently facing a severe crisis concerning the US Dollar, noting that the strengthening of the US Dollar against other foreign currencies has directly affected the value of the Sri Lankan Rupee. The President made these remarks while addressing the “Ratama Ekata” national anti-narcotics programme held in the Batticaloa District today (20). Addressing the prevailing economic situation, President Dissanayake observed that the tourism industry in Sri Lanka, which remains one of the country’s primary sources of dollar revenue, has experienced a 29 percent decline in tourist arrivals compared to the corresponding period in April last year. He stated that this decline has significantly affected the country’s foreign exchange earnings. The President further explained that the ongoing global economic crisis has adversely impacted demand for Sri Lankan exports, resulting in a reduction in export-generated foreign exchange inflows. In addition, he noted that remittances from Sri Lankan workers employed overseas had also shown a decline during the month. President Dissanayake also pointed out that the appreciation of the US Dollar has substantially increased the monthly expenditure incurred on fuel imports, thereby exerting additional pressure on the national economy. He stated that several measures are scheduled to be implemented in order to address the crisis and emphasized that the country’s economy is currently being managed in accordance with the Extended Fund Facility (EFF) programme established with the International Monetary Fund (IMF). According to the President, the Government is continuously engaging with the IMF by presenting and discussing proposals aimed at stabilizing the economy and mitigating the prevailing financial pressures. Highlighting the urgent need to manage the growing pressure on the US Dollar, President Dissanayake stressed that fuel consumption must be reduced and that the public should exercise greater caution regarding the consumption of imported goods. He further called upon citizens to act responsibly at an individual level in order to minimize the outflow of US Dollars from the country. “This difficult period will persist for some time longer. However, let us all unite and face this resiliently,” the President stated, assuring the public that the Government would not permit a destructive economic situation similar to that experienced previously to recur within the ...
Prez requests the public to limit fuel and imports - Hiru News
All citizens are requested to think about how to individually intervene to reduce the amount of dollars flowing out of the country, President Anura Kumara Dissanayake said today (20)."Let us face this short-term crisis strongly. I assure you that a past destructive economic situation will never be allowed to occur in our country," he added.The President mentioned this while participating in the Batticaloa District programme of "Ratama Ekata" (The Whole Country Together) defeating the poisonous drug menace, held at the Batticaloa Weber Stadium this afternoon.The President further said here:"Today we gather with the aim of winning a very important challenge in our country. We, as a government, are working with a sustainable determination to build this country, focusing attention on several main challenges.The first challenge we possess is the challenge and the path of building a strong economy. We faced a challenge in several sectors affecting our economy in the past. Due to tax policies imposed by various states, our economy was facing a certain blow. Cyclone Ditwan became the disaster that caused the highest economic impact in the recent history of Sri Lanka. Since it was our internal problem, we possessed the ability to face it strongly.Recently, a wartime situation arose centering the Middle East region. It subjected the countries considered developed in the world and countries possessing a low economic capability to an economic challenge without discrimination.The challenges we face economically mainly belong to two parts. The first is earning the amount of rupees required for the treasury. We performed that strongly. We possess a treasury account with the highest financial surplus in Sri Lankan history. Because of that, we received the ability to allocate 500,000 million rupees to face Cyclone Ditwan.Furthermore, because rupees were present in the treasury, we received the ability to make a certain intervention regarding the rise in fuel prices and electricity bills caused due to the Middle East war situation. We allocated 100,000 million rupees for that as well. A sum of 20,000 million rupees was allocated to provide a fuel subsidy last April. For the upcoming two months as well, 20,000 million rupees each will be provided for the fuel subsidy. Even today, the government provides a subsidy of 100 rupees for every litre of fuel you use. That is because the treasury possesses rupees.Fuel subsidy provided until next SeptemberFurthermore, the electricity ...
Prez requests the public to limit fuel and imports - Hiru News ...
All citizens are requested to think about how to individually intervene to reduce the amount of dollars flowing out of the country, President Anura Kumara Dissanayake said today (20)."Let us face this short-term crisis strongly. I assure you that a past destructive economic situation will never be allowed to occur in our country," he added.The President mentioned this while participating in the Batticaloa District programme of "Ratama Ekata" (The Whole Country Together) defeating the poisonous drug menace, held at the Batticaloa Weber Stadium this afternoon.The President further said here:"Today we gather with the aim of winning a very important challenge in our country. We, as a government, are working with a sustainable determination to build this country, focusing attention on several main challenges.The first challenge we possess is the challenge and the path of building a strong economy. We faced a challenge in several sectors affecting our economy in the past. Due to tax policies imposed by various states, our economy was facing a certain blow. Cyclone Ditwan became the disaster that caused the highest economic impact in the recent history of Sri Lanka. Since it was our internal problem, we possessed the ability to face it strongly.Recently, a wartime situation arose centering the Middle East region. It subjected the countries considered developed in the world and countries possessing a low economic capability to an economic challenge without discrimination.The challenges we face economically mainly belong to two parts. The first is earning the amount of rupees required for the treasury. We performed that strongly. We possess a treasury account with the highest financial surplus in Sri Lankan history. Because of that, we received the ability to allocate 500,000 million rupees to face Cyclone Ditwan.Furthermore, because rupees were present in the treasury, we received the ability to make a certain intervention regarding the rise in fuel prices and electricity bills caused due to the Middle East war situation. We allocated 100,000 million rupees for that as well. A sum of 20,000 million rupees was allocated to provide a fuel subsidy last April. For the upcoming two months as well, 20,000 million rupees each will be provided for the fuel subsidy. Even today, the government provides a subsidy of 100 rupees for every litre of fuel you use. That is because the treasury possesses rupees.Fuel subsidy provided until next SeptemberFurthermore, the electricity ...
