- Sajith alleges Govt. concealing economic data
- SLPP queries tax relief on essentials
- Sarvajana Balaya claims it’s an IMF, WB Budget
- UNP claims Millennial, Gen Z issues unaddressed
Opposition and Samagi Jana Balawegaya (SJB) Leader Sajith Premadasa accused the Government of concealing accurate data on the country's economic situation and producing figures to justify the policies it intends to implement through next year's (2027) Budget.
Addressing a pre-Budget workshop yesterday (12), he said the Government had failed to honour its Presidential Election mandate, claiming that the 74% of votes cast for President Anura Kumara Dissanayake and the SJB candidate reflected public support for a new International Monetary Fund (IMF) agreement.
"Both the National People's Power (NPP) and the SJB said during the Election campaign that we would move towards a new agreement with the IMF. But, after coming to power, the NPP kicked aside that mandate," he said.
Premadasa claimed that the Government had gone beyond the previous administration's "neo-liberal" policies, placing a heavier burden on working people. He also criticised the debt restructuring handled by Lazard, claiming that the macro-linked bond meant that debt repayments would increase alongside economic growth. He said IMF representatives had recently met the Opposition and indicated the need for a responsive agreement.
He further accused the Government of imposing taxes beyond IMF targets, citing an increase in the primary surplus from 2.3% to 5.4% and revenue as a share of gross domestic product from 13.9% to 15.4%.
Questioning the Government's poverty measure of around Rs 17,000 a month, based on a daily intake of 2,030 kilocalories, he claimed that World Bank data showed nearly 60% of the population was poor. He also questioned the selection of Aswesuma beneficiaries and called for a revised Janasaviya programme to eradicate poverty.
Premadasa proposed a new development bank for young people and micro-, small- and medium-scale enterprises (MSMEs), noting that around 250,000 MSMEs had closed during the 2022 economic crisis. He also listed unfulfilled Government pledges, including a 33% electricity tariff reduction, fuel at port-unloading prices, 1.2 million Vitz cars, 50,000 motorcycles and the removal of Value Added Tax on school equipment.
Meanwhile, the website oversight.lk was launched yesterday on Premadasa's instructions to monitor the Government's performance against its Budget commitments.
Sri Lanka Podujana Peramuna (SLPP) General Secretary Sagara Kariyawasam dismissed the 2027 Budget, saying there was little point in discussing it given the Government's alleged failure to deliver on its previous two Budgets. He said the public had expected meaningful tax relief on essentials, including food, electricity and fuel. "Whatever concessions were given have gone to the wealthiest people at the very top," he said.
Sarvajana Balaya Operation Head Madhura Vithanage said the Budget should be assessed against the promises made in the 2025 and 2026 Budgets and the extent to which they had been implemented. He said the country needed programmes to generate wealth domestically, but claimed the Government had largely followed IMF and World Bank recommendations. "There was no other qualitative or positive programme," he said.
Citing capital expenditure, Vithanage said only 30% of the allocation for 2026 had been spent by September. He also questioned the reappearance of previously announced proposals, including tank construction, dispensaries and a Central Highlands Authority.
Referring to President Dissanayake's statements about building 50 universities, establishing 1,000 Fourth Generation signal towers and constructing 450 tanks within two months, he questioned the absence of corresponding Budget allocations. He further criticised the lack of measures to prepare young people for entrepreneurship, address the employment impact of artificial intelligence (AI) and stem the brain drain.
"The impact of AI on jobs could become particularly serious by around 2028, but the Budget has failed to address the issue. This Budget has no connection to reality. In fact, it can't even be called a Budget. It is just another extension of the usual lies told on political stages," he said.
United National Party (UNP) Chairperson Wajira Abeywardana also criticised the Budget, claiming it offered no strong solutions to pressing national issues, particularly those affecting Millennials and Generation Z. He said Sri Lanka was lagging behind a rapidly advancing world in modern technology and that the proposals lacked mechanisms to generate employment for younger people through technological development.
Abeywardana said foreign reserves should be increased to US$ 13 billion and questioned whether the Budget provided sufficient relief on essential commodities, diesel, gas and electricity. He also identified the absence of a clear provision to meet approximately US$ 3.5-4 billion in repayments to international creditors by 2028 as a major shortcoming.