Sunday Dec 22, 2024
Sunday Dec 22, 2024
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The Government yesterday assured to introduce a new relief package through the interim Budget proposal to assist the public battered by the economic crisis.
This was revealed during the post-Cabinet meeting media briefing by Cabinet Co-Spokesman Bandula Gunawardena yesterday.
“The cost-of-living has risen to record high-levels as a result of the ongoing economic crisis along with the high exchange rate. This has directly impacted the essential items price hike across the board, burdening the public. Through foreign aid, a program is being planned to support the public via the interim Budget,” he explained.
He pointed out that the rupee devaluation against the dollar has adversely impacted all imported goods, such as onion, dhal, rice, and chilli to unbearable levels for many, assuring that the Government will introduce a relief package in the upcoming amended Budget.
“The dollar which was equivalent to Rs. 203 has increased to Rs. 365. We have to pay Rs. 365 for every dollar worth of goods we import,” Gunawardena added.
As per the Department of Census and Statistics, Sri Lanka's inflation soared to 60.8% year-on-year in July, up from 54.6% in June. The food inflation (Y-o-Y) increased to 91% in July, up from 80% a month earlier.
The Interim Budget for the next four months of this year will be presented in Parliament on 30 August by President Ranil Wickremesinghe in his capacity as the Finance, Economic Stabilisation and National Policy Minister.
