The Hon. (Dr.) Anil Jayantha - Minister of Labour and Deputy Minister of Economic Development
CBSL’s autonomy was defended as operating within a statutory framework that includes accountability through mandated, data-based reporting. The Minister said deviations from targets can be questioned through established report streams, and that the 5 per cent inflation target is based on the 20-year average and current conditions. He noted that inflation had fallen from crisis levels of around 70 per cent to near zero at times, and argued that the resulting price and financial stability should now be used to support growth and development.
Verbatim record (translated)
Machine-translated from Sinhala / Tamil / English¶ 01 Hon. Deputy Speaker, CBSL operates within the statutory framework. Autonomy comes with accountability through mandated reporting grounded in data and research—not emotions. If targets deviate, we can question and hold them accountable through the three report streams I cited.
¶ 02 On the 5% target: it reflects the 20-year average and current conditions. Inflation spiked to ~70% during the crisis but has since fallen, at times into mild deflation, trending back toward zero. The 5% target is evidence-based and can be adjusted if future conditions warrant. With autonomy and these practices, price and financial stability have been achieved; we must now leverage that for growth and development.
Provenance
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- Hansard, Friday, 25 July 2025 ·No. 1754382585021621 ·English daily/uncorrected Hansard
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Cite as: The Hon. (Dr.) Anil Jayantha - Minister of Labour and Deputy Minister of Economic Development. 10th Parliament, Parliament of Sri Lanka. Hansard, 25 July 2025. No. 1754382585021621. Politick, https://staging.politick.io/lk/speeches/11144