The Hon. (Prof.) Ruwan Ranasinghe

¶ 01 Hon. Deputy Chairperson, the Opposition Leader falsely claimed 30 percent poverty. UNICEF places Sri Lanka’s poverty at about 24.5 percent. Another falsehood is about 4,000 vehicle LCs opened before duty hikes. Our Ministers have clarified this—this lie is already unraveling.

¶ 02 They also alleged corruption in the e-passport tender with a Polish complaint. The tender has not even been awarded—so why the complaint and the accusations? This Opposition uses privilege to mislead the public.

¶ 03 When Sri Lanka gained independence, our economy was the third strongest in Asia after Japan and Malaysia, with about USD 1 billion GDP, sound reserves, low public debt, and strong exports. Under 76 years of alternating rule by the same two camps, that economy was bankrupted. Today, respected global institutions—the World Bank, ADB, and IMF—say Sri Lanka has set an example in macro stabilization. We have restored stability in a short time.

¶ 04 GDP rose from USD 84 billion in 2023 to an anticipated USD 108.8 billion by end-2025. Per capita GDP has crossed USD 5,000 for the first time.

¶ 05 Sectorally, agriculture expands by about 1.4 percent, services by 3.3 percent, and industry leads with 7.8 percent growth in 2025—evidence of a revived production base, especially among SMEs.

¶ 06 Public finance has improved: primary surplus is about 5.4 percent in 2025—the first notable primary surplus since 1987. We also recorded a current account surplus of about 0.7 percent—the first since 1987.

¶ 07 On tourism, we set a short-term target of 3 million arrivals. December–February saw record inflows. The Middle East conflict has temporarily reduced flows due to airline disruptions, but we are pivoting to India and China to mitigate.

¶ 08 I urge the Opposition to study the Central Bank’s 2025 Annual Economic Review to learn how to manage an economy, should they ever return to office. Thank you.