Parliamentarian Bandula Gunawardana claims many countries in the world have recorded their highest inflation rates at present.
Speaking in Parliament today, MP Gunawardana further claimed gas and fuel are released only once or twice a week in countries such as Ethiopia adding it is a rapidly developing nation.
The Parliamentarian said this the first time the world is facing an economic depression since 1930.
He said the United States has recorded the highest inflation rate since 2008 claiming Sri Lanka is currently facing the same inflation rate as foreign nations.
MP Gunawardana claimed the entire world is facing shortages of items and increases in the prices of essential items due to the impact of the COVID-19 pandemic and the Ukraine-Russia conflict.
He said the World Bank has issued a clear warning that the world will face a severe food crisis in the near future.
