Minister of Power Udaya Gammanpila says Sri Lanka is faced with a scarcity of US dollars, and the government a scarcity of rupees.
Speaking during day six of the debate on the Second Reading of the 2022 Budget in Parliament today, Minister Gammanpila said everyone must accept that Sri Lanka is facing a problematic period.
The Minister said even those who do not understand economics will feel the effects of inflation, with the rising cost of goods.
The Minister of Energy said these serious issues cannot be ignored adding that acceptance is the first step towards resolution.
The Minister also claimed that Sri Lanka is in a foreign exchange crisis due to importing goods over and above its capacity.
He stressed the country may celebrate independence in future, by waving the Chinese flag as a majority of locally procurable commodities are imported from China.