There Will Be Absolutely No Room for Another Economic Crisis Like in 2022
The Government Has the Capacity to Resolve the Challenges Arising from the Conflict Situation in the Middle East
President Anura Kumara Dissanayake emphasised that although certain parties are expressing views that the country may once again face an economic crisis similar to that of 2022, such a situation will by no means arise again. The President further stated that while the current difficulties stemming from the conflict situation in the Middle East constitute an external crisis, the Government possesses the strength and capacity to manage it successfully.
The President pointed out that the mandate granted to the present Government by the people was based on expectations of building a strong economy, preventing racism, punishing the corrupt, ensuring equal application of the law to all citizens and curtailing the excessive privileges enjoyed by politicians. He stated that the Government has already completed a considerable amount of work towards achieving these objectives.
The President further noted that if his Government failed to fulfil the responsibility of creating a country where the law is applied equally to everyone, no other government would be able to accomplish it. He stressed that today the law is being enforced equally, regardless of power, wealth or social status.
President Dissanayake also stated that the current Government has taken steps to abolish the excessive privileges enjoyed by politicians, including pensions and to transform politicians into individuals who serve the people.
President Anura Kumara Dissanayake made these remarks this morning (22) while attending the ceremony to recommence construction work on the Nintavur Cultural Centre.
The project, which was initially launched in 1999, had remained completely halted since 2014. In response to a long-standing request by the people of the Ampara District and with the objective of preserving and passing on the rich cultural heritage of the district to future generations, construction work on the cultural centre has now recommenced after a lapse of 24 years.
The total estimated cost of the project is Rs. 945.04 million, of which Rs. 300 million has been allocated under the 2026 Budget. The remaining funds are to be allocated as required and the entire construction project is scheduled to be completed by 31 December 2027.
Addressing the gathering, President Anura Kumara Dissanayake stated:
“We are a Government that stands by the people in times of hardship. In the face of Cyclone Ditwah as well as the conflict situation in the Middle East, we allocated substantial funds to provide relief to the public. We strengthened the country’s economy. However, conflict in the Middle East region has once again begun to escalate. The value of the dollar increased when importing fuel and the prices of all imported goods also rose. As a result, a greater amount of dollars is flowing out of the country today. The tourism industry, which was expected to bring dollars into the country, has been affected. Certain export earnings have also been impacted. Today, the dollar is appreciating to some extent against the rupee.
Some people claim that this situation is similar to 2022. It is not. In 2022, we did not even have rupees. In 2022, the Central Bank had no dollars either. That is not the case today. There is a shortage of dollars in the market, but the Central Bank currently holds close to 7,000 million US dollars. At that time, the Central Bank had only 50 million US dollars. In the coming days, we will receive another US$ 700 million. Therefore, we have a considerable level of dollar reserves.
However, we must continue to manage the economy in a systematic manner. We will under no circumstances allow shortages of imported fuel, gas, milk powder or fertiliser. I assure you of that. At that time, there was no fuel, no milk powder, no gas and fertiliser had completely disappeared. Such a situation will not arise again. Nevertheless, we are under a certain degree of pressure and we must manage it carefully.
We have faced internal problems within the country. We faced the Ditwah disaster, which was an internal issue. But this is a conflict situation in the Middle East that is beyond our control. Even so, we are capable of facing it. Many are now attempting to create narratives claiming that this is just like 2022 and that the same fate will happen again. Remember, that will not happen. We will resolve this issue.
We have generated State revenue. That is why, following requests made by both Government and Opposition Members of Parliament from this area, we have been able to allocate funds today for the construction of this cultural centre.”
Eastern Province Governor Professor Jayantha Lal Ratnasekera stated:
“It is a significant achievement that this project, which had remained incomplete for 24 years, has been recommenced within one and a half years of the National People’s Power Government coming to power. As the President stated during the opening ceremony of the Batticaloa Library, this Government is one that acts without discrimination on the basis of ethnicity or religion.
Through this cultural centre, a foundation will be created for people to live in harmony regardless of ethnic or religious differences.
We do not need another war that lasts 30 years. The people of the Eastern Province suffered greatly due to the war. Through unity among the Sinhala, Tamil and Muslim communities, this country can continue to move forward. Everyone must extend their support towards that goal.”
Member of Parliament A. Athambawa stated:
“During the last Presidential Election campaign, when the President visited this area, he asked the people what the most pressing issue facing the region was. Their request was that the construction work on this cultural centre, which had remained abandoned, be completed. In response to that public request, the President announced during the 2026 Budget Speech that Rs. 300 million had been allocated for the construction work of the Nintavur Cultural Centre.
He has also agreed to provide the remaining funds required to complete the project in 2027. On behalf of the people, I extend my gratitude to the President for listening to the requests of the people of Nintavur and taking steps to fulfil them.”
The commencement of construction work took place with the participation of Eastern Province Governor Jayantha Lal Ratnasekera, Deputy Minister of Rural Development, Social Security and Community Empowerment, Wasantha Piyathissa, and Member of Parliament A. Athambawa.
The Chairman of the Nintavur Pradeshiya Sabha, other public representatives of the area, the District Secretary, State officials and a large number of residents were also present at the occasion.
