Hon. Dilith Jayaweera

¶ 01 Hon. Deputy Speaker, under Section 11(3) of the State Financial Management Act, No. 44 of 2024, we are debating the Fiscal Strategy Statement for 2026. I will raise two key points.

¶ 02 A Fiscal Strategy Statement must set out a clear central strategy. Without a clear fiscal strategy, a nation cannot move forward. What is the concrete strategy and the specific pathway here? The presentation is conventional—no novelty or fresh thinking. That is why speakers resort to blaming old governments and getting trapped in rhetoric.

¶ 03 Fiscal management is one side; wealth creation is the other. Without wealth creation, there is no fiscal base to manage. I value efforts at discipline, with caveats. But the overall approach lacks a new strategy. We should discuss not only how to stretch scarce funds, but how to create wealth.

¶ 04 We have not aligned with global trends. We continue to think parochially. With due respect, our national representation abroad, including at the World Economic Forum, failed to inspire. We look like a weak State. To create wealth, we must attract FDI. What message are we sending? Investors will not come simply because some politicians are jailed. Why should investors choose Sri Lanka? Show them the innovative approach, processes, and incentives versus our regional competitors.

¶ 05 We are also moving to reinstate draconian debt recovery practices, crushing local entrepreneurs who became nonperforming for reasons beyond their control. Where is the policy framework to rehabilitate viable domestic enterprises before their assets are auctioned?

¶ 06 On tourism, claiming it brings “new money” is misleading as currently structured. We attract budget travelers who impose costs on the public without measurable net inflows. We do not even have robust data on in-country tourist spending. Implement the digital ID and a proper digital platform immediately to track spending flows.

¶ 07 In sum, this Statement lacks logical, scientific, innovative concepts. It does not present a true roadmap for moving forward. Thank you.