The Hon. R. M. Jayawardhana - Deputy Minister of Trade, Commerce and Food Security

¶ 01 Madam Presiding Member, today we debate the Central Bank report on how Sri Lanka’s economy and other services progressed or regressed in 2025, and how we move forward as a country. Since morning we heard many speeches. The report clearly sets out how development indicators have moved forward, yet opposition speakers claim everything has collapsed. They speak as if there is no economy.

¶ 02 The Central Bank report is not only to showcase development; it is to identify shortfalls and regressions by sector, understand their causes, and have a constructive discussion. But the critiques we hear are not based on the report.

¶ 03 Compared to 2024, all economic indicators have improved; some to unprecedented levels in 2025. From January to November 27, a rule-based, planned process drove those gains. Measured quarterly and annually, progress was evident. However, by November 27 a natural disaster struck, disrupting activity, and in December some metrics declined: tourist arrivals plummeted; some construction projects paused; some development works stalled. Despite that, those who lecture us about fixing the economy and stopping corruption are mostly those facing cases for corrupt practices that harmed the economy. We cannot follow their “advice.”

¶ 04 A Member asked what we are doing for Northern development. We launched the Northern Coconut Triangle, planning over 16,000 acres of coconut cultivation, initiated by the President in his first year. We are developing fisheries harbours and addressing key issues in the fisheries sector. In 2025 we started a road development project in the North allocating over Rs. 5,000 million—these projects will contribute to the Northern economy.

¶ 05 Another Member praised a past President’s “development” and growth rate. That “growth” was driven by massive borrowing and construction, showing 30 per cent growth in that sector—leaving us with a debt mountain. Last year we paid about USD 5.1 billion in debt service; we must pay this year too. Even so, we stabilized the economy to deliver benefits where most needed—scholarship allowances including Mahapola increased, child benefits increased, and salaries and pensions of public servants increased; for some, by up to 60 per cent by 2027. This is possible because we stabilized the economy.

¶ 06 How do we face 2026? While covering the impact of Cyclone Dicha in 2025 and the current energy shocks from the Middle East war, we are identifying risks and proposing alternatives to keep the economy stable.

¶ 07 Those in the opposition who fear pending cases are painting false pictures of this government’s path. Society will judge their claims. Thank you for the opportunity.