Printing money not the solution to economic crisis - Sajith | Daily News

Printing money not the solution to economic crisis - Sajith

Opposition Leader Sajith Premadasa expressed serious concern over the Government’s intention to print money as the only solution to the existing economic crisis and warned that such a decision is incorrect since it will further increase inflation in the country.

He reiterated that printing money is not the solution to the present economic crisis.

Addressing a media briefing in Colombo the Opposition Leader vehemently rejected the suggestion of printing money to pay the salaries of public servants as mentioned by Prime Minister Ranil Wickremesinghe and predicted that it will also lead to the further price increase of essential commodities.

Premadasa further said that leaders should know that printing money is a temporary solution to overcome the country’s current economic crisis and if the Government really wants to overcome this crisis, the best solution is to create a conducive environment to attract more foreign investors to Sri Lanka.

“At the same time the Government should also encourage the local investors to commence industrial projects by granting relief packages. Otherwise they will also leave the country for better prospects,” he said.

The Opposition Leader also said it is a pity to say most of our educated young blood are going abroad for better economic prospects due to the non-availability of skilled jobs in the country.

“It is the sole responsibility of the Government to initiate new employment avenues to retain the country’s valuable young human resources rather than allowing them to find employment overseas, “he said.

The Opposition Leader further said the unnecessary financial expenditure on various projects initiated by the Government in the past is also another reason for rising inflation in the country.

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