Economy has collapsed - Dr. Vitharana | Daily News

Economy has collapsed - Dr. Vitharana

Lanka Sama Samaja Party (LSSP) Chief Secretary Dr. Tissa Vitharana said the country’s economy should be strengthened by moving towards a production-based economy.

He was speaking at a media conference at the LSSP headquarters yesterday.

The country’s economy is not at a satisfactory level as a result of a huge burden of loans obtained by the previous government over the past 30 years, Dr. Vitharana said.

“US$ 5.9 billion has to be paid as loan instalment and interest annually. Even this year, an amount of US$ 5.9 billion has to be paid. This amount will increase to US$ 7.9 billion by 2025,” he said.

He added that during Mahinda Rajapaksa’s regime, a seven per cent development rate was maintained and various development projects were undertaken. But under this government, the development rate has come down to three per cent.

“As a result of poor economic management under this government, people are undergoing immense hardships. The tax burden has been put on people. Due to the failure of the government, the country’s economy has collapsed,” he said.

The advancements in science and technology should be utilised for achieving economic prosperity and becoming a developed country, Dr.Vitharana said.

He said the UNP government sells state assets. The UNP government has given permission for the Trincomalee harbour to be used as a US naval camp.

Dr. Vitharana said the UNP is postponing elections as a habit. Therefore, the Joint Opposition is going to request the Elections Commission to hold the Provincial Council Election soon. Further they urge the EC Chairman to call a General Election by the beginning of next year.

He said media suppression is taking place now and condemned such moves.


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