Experienced Parliament Needed To Ensure Economic Stability - Ranil

COLOMBO (News 1st); Former President and leader of the United National Party (UNP), Ranil Wickremesinghe, emphasized the need for an experienced team in Parliament to navigate the country's economic challenges. 

Wickremesinghe highlighted his previous efforts with the last Parliament to rescue the country from bankruptcy. He noted that the current focus should be on implementing the sustainability agreement, with reports indicating that the current President is set to propose amendments related to this.

He stressed that the authority to implement these amendments lies with Parliament, making it the responsibility of the new Parliament to ensure these measures are carried out effectively. 

Wickremesinghe outlined several key targets, including:

Debt Repayment: Starting in 2028, the country must begin repaying its debts.

Government Revenue: By 2027, government revenue should reach 15% of the Gross Domestic Product (GDP), up from the current 12%. This requires an annual growth of 1%.

GDP Recovery: By the end of this year, the GDP should return to 2019 levels.

Foreign Reserves: Foreign reserves should be increased to a range of $12-14 billion.

Wickremesinghe also emphasized the importance of rapid development and the implementation of anti-corruption measures. 

He pointed out that these responsibilities fall on Parliament, and no party is expected to secure a majority in the upcoming elections. 

Therefore, it is crucial to learn from the experiences of the previous Parliament, where no one stepped forward to take on these responsibilities.

He added that in the previous Parliament, he had to bring together members from the Sri Lanka Podujana Peramuna (SLPP), the Sri Lanka Freedom Party (SLFP), and the UNP to form a government and work towards these goals. 

He stressed that such situations should not be allowed to recur in the new Parliament.