Tamil Diplomat

Economy in a perilous state: Bandula Gunawardena

UPFA Parliamentarian Bandula Gunawardena has stated that the country’s economy is in a perilous situation and that the government will be compelled to resort to the printing of money this year to bridge the escalating Budget deficit.

He was speaking to the media. He charged that the claims made by Finance Minister Ravi Karunanayake are contrary to facts. Commercial Banks and the Central Bank would have to bridge the Budget deficit which will further escalate with inflation caused by the appreciation of the dollar and this would eventually force the government to resort to the artificial printing of money. Today prices are increasing because the rupee is depreciating against the appreciation of the US Dollar.