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Proper Economic Management Expected to Restore Debt Repayment Capacity by 2028 – President

Published

1 year ago

2025/02/20

Priyan

President Anura Kumara Disanayake highlighted that due to the mismanagement of public finances by previous administrations, the country had fallen into bankruptcy and is currently operating under a probationary period of the International Monetary Fund (IMF) program. Given this situation, he emphasized that the Budget 2025 has taken the initial steps towards building a strong and stable economy.

The President made these remarks while participating in the Post-Budget forum 2025 organized by the University of Colombo Master of Business Administration (MBA) Alumni Association held on Wednesday (19) at Cinnamon Life Hotel in Colombo.

President Anura Kumara Disanayake stated that the government aims to utilize the three-year debt moratorium granted through debt restructuring effectively and implement proper economic management to regain debt repayment capacity by 2028.

The President further noted that while many countries in the world have taken decades to recover after facing bankruptcy, Sri Lanka is expected to recover in a significantly shorter period.

The President also highlighted that this year’s budget proposes to increase government revenue to 15.1% of the Gross Domestic Product (GDP) and emphasized the government’s commitment to prioritizing expenditures based on identified national priorities.

The President emphasized that this year’s budget focuses on expanding the economy by driving economic activities to rural areas and integrating citizens as stakeholders in the economy. He expressed confidence that this approach would enhance the economic benefits available to the people.

The government plans to reintegrate marginalized groups into the economy by establishing small economic units at the village level. As a result, the country aims to foster a surge in Small and Medium-scale Enterprises (SMEs), the President stated.

Highlighting the government’s commitment to supporting industries, the President noted that reducing production costs would ultimately provide relief to consumers.

To uplift the nation from rural poverty, the highest budget allocation this year has been directed towards education. This investment aims to restructure both human and physical resources within the school system, transitioning from a linear education model to a more diversified, multi-directional approach.

The budget also prioritizes public expenditure management. Given the high costs associated with delivering public services, the government intends to conduct a comprehensive review of state institution expenditures.

President Disanayake stressed the importance of maintaining a corruption-free political authority and underscored that fostering a culture where bribery is rejected is a collective responsibility of the citizens.

To establish an export-driven economy, the government plans to sign new trade agreements and anticipates higher export earnings this year.

Additionally, the current administration is focused on developing a port-centric economy. The budget has placed special attention on establishing an efficient transhipment hub.

Tourism promotion initiatives will be further strengthened through City Branding programs, with plans to develop key cities such as Anuradhapura, Yapahuwa, and Jaffna as major tourist destinations.

The President also emphasized the need to leverage the country’s diplomatic service to expand economic opportunities for Sri Lanka.

The event was attended by Duminda Hulangamuwa Chairman, Ceylon Chamber of Commerce & Senior Adviser to the President on Economic Affairs and Finance,President of the University of Colombo Master of MBA Alumni Association Suraj Radampola, along with several experts from academia and the business sector.

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Heat Index at Caution Level in the Northern, North-central, North-western, Western, Sabaragamuwa, Southern, and Eastern provinces and in Monaragala district during the day time

Published

2 hours ago

2026/04/26

Priyan

Warm Weather Advisory
Issued by the Natural Hazards Early Warning Centre
Issued at 3.30 p.m. on 25 April 2026, valid for 26 April 2026.

The Heat index, the temperature felt on the human body is likely to increase up to ‘Caution level’ at some places in the Northern, North-central, North-western, Western, Sabaragamuwa, Southern, and Eastern provinces and in Monaragala district during the day time.

The Heat Index Forecast is calculated by using relative humidity and maximum temperature and this is the condition that is felt on your body. This is not the forecast of maximum temperature. It is generated by the Department of Meteorology for the next day period and prepared by using global numerical weather prediction model data.

Effect of the heat index on human body is mentioned in the above table and it is prepared on the advice of the Ministry of Health and Indigenous Medical Services.

ACTION REQUIRED
Job sites: Stay hydrated and takes breaks in the shade as often as possible.
Indoors: Check up on the elderly and the sick.
Vehicles: Never leave children unattended.
Outdoors: Limit strenuous outdoor activities, find shade and stay hydrated.
Dress: Wear lightweight and white or light-colored clothing.

Note:
In addition, please refer to advisories issued by the Disaster Preparedness & Response Division, Ministry of Health in this regard as well. For further clarifications please contact 011-744649

News

Sagarika derailment disrupts coastal rail line; services to resume in two days

Published

3 hours ago

2026/04/26

Thilina Walpola

Railway General Manager Ravindra Pathmapriya said on Friday that re-railing operations of the derailed ‘Sagarika’ train have already commenced and that services on the Coastal Line are expected to be restored within two days.

Addressing the media, he said the Minister had instructed officials to take all necessary measures to minimise inconvenience to passengers.

Commenting on the incident, he said: “The damaged train is a significant loss for us, especially as our fleet is already limited. We have incurred this loss and hope to rectify the situation promptly. However, we will need to deploy an alternative train in its place, and discussions are currently underway.”

The ‘Sagarika’ train, operating from Beliatta to Maradana, derailed near the Wadduwa Railway Station on Friday morning (24), causing severe damage to one track of the dual-line section.

The Railway Department has since restricted services on the affected Coastal Line up to Panadura Railway Station.

Arrangements have been made to transport passengers from Panadura to South Kalutara by Sri Lanka Transport Board (SLTB) buses, from where train services will resume towards Matara and Beliatta.

Meanwhile, the Department said efforts are underway to clear the obstruction and restore at least one track by the end of the day.

News

PHIs launch Vesak ‘Dansal’ safety registration drive

Published

3 hours ago

2026/04/26

Thilina Walpola

Public Health Inspectors (PHIs) have announced that registration of ‘Dansal’ organised islandwide in view of the upcoming Vesak Poya has already commenced.

President of the Sri Lanka Public Health Inspectors Union (PHIU), K.P. Boralessa, said that organisers intending to conduct ‘Dansal’ are required to inform and register with the PHI attached to the relevant area.

He said organisers must also provide details of the location and the type of ‘Dansal’ being conducted.

Following registration, PHIs will conduct awareness programmes for organisers on maintaining required health and safety standards during the conduct of such events, he added.

Boralessa warned that legal action would be taken against those who organise ‘Dansal’ without proper registration or in an unsafe manner.

He further said PHIs will inspect venues on the eve of each ‘Dansala’ to assess suitability, including waste disposal arrangements, availability of drinking water, quality of water used for cooking, and condition of equipment at the site.

In addition, those involved in food preparation and serving will also be inspected to ensure hygiene standards are maintained, he said.

“These measures are taken to ensure that food provided at ‘Dansal’ is safe and hygienic for the public. Special attention must be paid to the ingredients used, and only healthy ingredients should be utilised,” Boralessa added.