Hon. Sajith Premadasa - Leader of the Opposition

¶ 01 Mr. Speaker, under Standing Order 27(2), I raise the following questions in view of the present economic situation facing the country—the depreciation of the rupee, rising cost of living, growing income inequality and the severe strain on living standards. We need clarity on the Government’s strategic approach to both macroeconomic and microeconomic management:

¶ 02 1. What are the reasons for the persistent depreciation of the rupee? What is the Government’s view and policy on this? What short, medium and long-term measures are being taken to manage the situation, stabilize foreign exchange, and ensure rupee stability? What challenges does the Government identify in managing macro and microeconomic policies, and what are the proposed solutions?

¶ 03 2. Does the Government acknowledge that a vast majority of the people are under pressure in the current economic environment? If so, what programmes are being implemented to reduce this burden?

¶ 04 3. Does the Government acknowledge that most households—especially middle- and low-income families—are caught in a debt trap and under financial stress? If so, what is the Government’s plan to reduce excessive indebtedness? Specifically, what measures will promote contributions to GDP from agriculture, services and industry, and help people escape the debt trap?

¶ 05 4. The Department of Census and Statistics has published district-wise poverty lines. Are these realistic given current market prices, cost of living and household incomes? Does the Government accept them as practical measurement indicators? In light of the severe hardship faced by the people, I request a clear presentation of the Government’s measures.