Speaking at the UNP political office on Flower Road in Colombo, party Chairman and former Minister Vajira Abeywardena criticised the government's 2027 Budget. He stated that it fails to tackle the country's urgent economic struggles or provide meaningful relief to citizens.
According to him, the budget leaves out Millennials and Generation Z entirely. He noted that while the rest of the world advances swiftly through technology, Sri Lanka lags behind without any adequate plans to build tech-driven jobs for young people.
Concerns Over Debt And The IMF
Abeywardena also flagged massive upcoming debt obligations. He claimed the country must raise its foreign reserves to USD 13 billion by 2028. Additionally, he noted that debt repayments of between USD 3.5 billion and USD 4 billion to international institutions will fall due by 2028, alleging the Budget did not explain how this money will be found.
He also questioned the handling of the International Monetary Fund (IMF) programme, arguing that naming a new committee to handle related issues points to divisions inside the government.
Struggles On The Ground
Touching on the high cost of living, Abeywardena pointed out that public sector employees are under severe pressure, with some using nearly 60% of their earnings for loan repayments. He added that ordinary people have had to pawn jewellery and other valuables just for day-to-day survival, with some losing these items after failing to settle the debt.
Defending the path taken under former President Ranil Wickremesinghe, he claimed those policies had stabilised the country after the crisis. In contrast, he argued that the current administration has offered no clear vision to keep the recovery going.
