Prime Minister Ranil Wickremesinghe says considering the nation’s current economic situation, difficult decisions have to be made to avert a complete collapse of the economy.

The PM said a decision had been reached during a meeting held at Temple Trees in Colombo on Monday evening with ministers, members of parliament and electoral organisers.

“During this meeting, we analysed the future of Sri Lanka’s economy and the reasons behind the nation’s dire economic situation,” the Premier said in his official Facebook account.

“It was explained that going forward, difficult decisions would have to be made in order to avert a complete breakdown of the economy.”

The Prime Minister said the necessity of devising a simple tax scheme, as well as creating a transparent environment for the payment of taxes through a systemic arrangement, was also deliberated.

“An agreement was reached that the citizens of Sri Lanka should be involved in the country’s economy and decision-making process by implementing a transparent tax scheme instead of a hidden tax agenda,” he said.

The Prime Minister said it was declared that the full support of all citizens of Sri Lanka would be required in order to bring back a sustainable and flourishing economy to the Island.

“We took over a nation with a pillaged economy in its wake,” he said.