Archives for November 20, 2016

It is reported that maintaining a Minister in Parliament costs the public Rs. 60 million a month.
Economists say maintaining of a large cabinet of ministers has pushed the country towards an economic precipice.
They point out that the country is not developed enough to spend so much for the maintenance of ministers and if such wasteful spending could be minimized the budget deficit could be bridged and tax burden on the people could be removed.

Sri Lanka’s total debt has risen by Rs. 141700 million due to the depreciation of the rupee against the dollar say reports.

Accordingly, foreign debt has increased by Rs. 133000 million. It is stated that the country’s debt-to-GDP currently stands around 75% and 95.4% of all government revenue is currently going towards debt repayment.
It is also stated that under President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe, who came to office at the beginning of 2015, domestic debt grew by 12% and external debt by 25%.
According to certain statistics external Debt in increased to Rs.3671100 Million in June from Rd.3584617 Million in May of 2016. External Debt in Sri Lanka averaged Rs.862382.49 Million from 1986 until 2016, reaching an all time high of Rs. 3671100 Million in June of 2016.

It has been revealed that the Central Bank of Sri Lanka has rejected the footnotes added by the UNP members to the report compiled by the Committee on Public Enterprises (COPE) regarding the bond scam.
The relevant sources say the Central Bank has rejected the report with footnotes stating eh details included in it cannot be accepted.
The rejected report has been already sent to the COPE say sources.
The Auditor General Gamini Wijesinghe had earlier stated that he rejects the footnotes in the report.
Sources: ‘Mawbima’