Samagi Jana Balawegaya Parliamentarian Ashok Abeysinghe says the country does not have adequate foreign reserves to import essential items.
MP Abeysinghe commenting on the risks faced by the country due to the rapid declining of foreign reserves said thousands of containers are stuck in the Port due to the inability to open letters of credit.
Speaking in Parliament, he said the government’s expenditure is thrice the amount of government’s income adding the government’s income in 2020 was Rs1,350 billion whereas the expenditure was Rs4,800 billion.
He said monthly expenditure for imports is USD one billion adding five more months remain of the current year.
MP Abeysinghe said the country also has to repay debts amounting to USD one billion adding the country’s expenditure for the next five months is USD six billion.
He claimed the country only has USD2.5 billion.
The Parliamentarian said the government’s responsibility is to safeguard the livelihoods of the country’s citizens.
MP Abeysinghe added the country’s citizens including 6.9 million individuals who voted for the present administration are facing major issues due to the financial crisis by the end of this year.