Increase revenue by controlling borrowings – CBSL Chief

He also pointed out the need to increase government revenue by controlling borrowing.

He also said that the current inflation should be controlled and the export income should be increased and he emphasized that it is important to manage the government income and government expenditure.

Dr. Weerasinghe pointed out that by restricting imports, the cost of last year’s 2 billion was reduced to 1.3 billion this year.

The Governor of the Central Bank of Sri Lanka (CBSL) Dr. Nandalal Weerasinghe said that in an economic crisis, the low-income earners should be protected first and therefore money should be allocated for social safety nets to protect them.

He pointed out that if the economic hardships of low-income earners increase, poor people may take to the streets and therefore may cause unrest in the country.

He explained that especially the current state income is about 1.2 billion and if it is possible to control the state expenditure by restricting the import of non-essential items, it will be important for the state income.

And he further pointed out that solving this crisis is something that cannot be done in two months and he believes that he will be able to bear these inconveniences at least until December this year.

Also, Dr. Nandalal Weerasinghe explained that to avoid this crisis, the state revenue should be increased to at least 14/15%.

He mentioned this while participating in the dialogue held at the Parliament Complex on Wednesday (31) titled “Current

Therefore, he further pointed out that the economy should be stabilized by controlling the discomfort of the low-income parties by making the economic hardships between the high-income and low-income parties divided.

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