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Govt. borrows Rs. 4.7 trillion in 3 years: Wimal

Joint Opposition MP Wimal Weerawansa said today the government had obtained Rs. 4.7 trillion as loans for three years whereas only Rs. 5.2 trillion was obtained as loans for nine years during the previous regime.

Speaking during the budget debate, he said the debt burden had
gone up by 64% since the government came to power.

"The debt to GDP ratio was 77.6 per cent in 2014 when the present government came to power. But it was increased to 79.3 per cent in 2016 without the war and constructive development programmes," he said.

MP Weerawansa said the government was planning to obtain Rs. 1,895 billion in 2018 as new loans.

He said the recurrent expenditure of the government had increased by 62 per cent when compared to the budget in 2014 where the recurrent expenditure was Rs. 868 billion.

"If the government claim that the debt burden should be borne by everyone, recurrent expenditure of the President, Prime Minister and the government should have been reduced," he said.

Mr. Weerawansa said the government had no plans to implement the 'Blue, Green' budget which would be only a set of words.

He said the budget included a set of proposals which would not be able to implement in practice adding that it had intended for the foreigners than the local entrepreneurs. (Ajith Siriwardana and Yohan Perera)