The President of Sri Lanka has announced a national policy to rebuild the bankrupt economy by 2048.
According to Arab News, Sri Lankan President Ranil Wickremesinghe made the announcement on Wednesday at a time when rising food prices and shortages are making daily life a battle for millions of the country's citizens.
73-year-old President Ranil Wickremesinghe announced the plan in his first policy statement since taking office last month.
.jpg)
Sri Lanka is bankrupt and defaulted on its $51 billion foreign debt in April as inflation continues to soar.
According to government data, inflation rose to a record 60.8 percent in July, with food prices rising 90.9 percent.
Announcing his Cabinet's economic policy, Ranil Wickremesinghe said that Sri Lanka was facing a 'situation unprecedented' in recent history and was in 'grave danger'.
He told the Parliament that we have carefully reviewed the situation. To solve this, we are preparing a national economic policy for the next 25 years.
If we build the country, the nation and the economy through national economic policy, then by 2048 when we will celebrate the 100th anniversary of independence. We will be able to become a fully developed country.
It should be noted that the plan did not focus on providing immediate relief to millions of people of the country.
More about this source textSource text required for additional translation information
Send feedback
Side panels
