Sri Lanka is struggling with an economic crisis fuelled by mounting debts, a widening trade deficit and with the coming of the COVID19 pandemic manufacturing and service sectors hitting all time-lows, according to the central bank.
In this scenario with government’s monthly expenditure standing at Rs 80 billion, that could rise to at least Rs 100 billion when state bodies, universities and schools are re-opened.
A right thought is for an austerity measure be put in place where the salaries of President, Prime Minister, Cabinet Ministers be reduced by 30 percent and that all public servants donate half their salaries to the Widows’ and Orphans’ Pension Fund. It would keep the State Expenses till after the 2020 General Election, that government wants to be held ASAP. Thereafter a budget will be presented in parliament to meet all the expenses of the state. Perhaps right action will soon come from the President!