Speaking at an event in Galle, Sirisena highlighted the challenges posed by global uncertainties, including the Middle East conflict, and emphasized the need for closer cooperation between the government and the business community to revive the economy.
“While we support national recovery efforts, the current tax structure could discourage reinvestment and growth,” he said. Sirisena stressed that a strong partnership between the government and businesses is essential for overcoming the ongoing economic crisis.
He also warned that Sri Lanka’s fragile economy could be severely impacted by even minor reductions in daily dollar inflows. Sirisena further criticized the high number of public holidays, saying that frequent breaks for events and commemorations are affecting productivity and economic activity.
“To build a country and strengthen the economy, there must be consistent policies. Too many holidays and high taxes make it difficult for businesses to operate and invest,” he added.
Sirisena urged policymakers to review tax policies carefully, taking into account recent economic setbacks, including the Easter attacks, the COVID-19 pandemic, and the broader financial crisis. He emphasized the need for a balanced approach between revenue generation and encouraging investment to achieve sustainable growth.
