Delivering the Interim Budget Speech for 2022 in Parliament today (30), President Ranil Wickremesinghe stated that the government’s aim is to create a surplus in the primary budget by the year 2025. 

“Our effort is to stabilize the economic growth rate. Our aspiration is to establish a solid economic foundation by the year 2026,” he said, in his final remarks during the speech. 

He said as at end 2021, Sri Lanka’s public debt is about 110 percent of the Gross Domestic Product (GDP). “Our target is to bring this down to less than 100 percent in the medium term.”

“If we build the nation and its populace based on the National Economic Policy, we would be able to become a fully developed country by the year 2048, when we celebrate the 100th anniversary of independence.”

The President said that Sri Lanka can no longer be a nation dependent on loan assistance. “We can also no longer be used as a tool of interference by other countries with strong economies. All of our collective vision should be to make our country strong and stable, in order to stand independently.” 

“We must strive to bring business entities of our country to a competitive level in the global market. We must pursue to capture a share of the global market on agricultural exports. We should seek to create a disciplined, knowledgeable society, that provides right opportunities to maintain social justice.”

Wickremesinghe said all this can be achieved, only if they work together in unity with common consent. 

He reiterated the invitation to all the parties represented in Parliament to join an All-Party Government, “since this unprecedented situation is the responsibility of us all, and therefore need to prioritize the necessities of the country and the nation.”

“I request all of you in this House and all the citizens of the country, to put aside your personal political goals and unite in the context of the national cause of rebuilding the country and the nation.” 

“If we all come together, we will be able to uplift our Motherland, and create a nation that competes and moves forward with the ever-changing world.” 

“If we miss these opportunities, we will be marginalized globally,” he said.

Read the President’s full budget speech below:

Budget Speech 2022 (English) by Adaderana Online