Opposition Leader Sajith Premadasa has strongly criticised the government’s 2027 Budget, claiming it fails to address the rising cost of living, poverty and unemployment while offering no meaningful relief to millions of struggling Sri Lankans.
Speaking to the media following President Anura Kumara Dissanayake’s Budget speech in Parliament, Premadasa said the government had failed to address the most pressing challenge facing the country’s 22 million people — their daily struggle to survive.
He said the Budget offered no clear solutions to rising prices, the increasing cost of living or inflation, despite the financial difficulties faced by ordinary citizens.
The Opposition Leader also raised concerns about unemployment among educated young people, citing what he described as International Monetary Fund (IMF) findings indicating a youth unemployment rate of 43%.
He further claimed that World Bank figures showed poverty levels exceeding 60%, accusing the government of failing to introduce effective measures to help vulnerable communities escape poverty.
Premadasa also criticised the lack of meaningful support for micro, small and medium-sized enterprises (MSMEs), which he said provide employment to approximately four million people and contribute 52% to Sri Lanka’s gross domestic product.
He questioned the government’s proposed interest-free loan schemes, arguing that distributing funds through the existing banking system would primarily benefit established borrowers rather than struggling businesses affected by recent economic difficulties.
According to Premadasa, entrepreneurs who have suffered financial setbacks would continue to face difficulties accessing credit under the proposed arrangements.
He also questioned the government’s plans to promote young entrepreneurs, saying there were no adequate mechanisms to provide the initial capital and working capital required to establish and expand businesses.
The Opposition Leader further claimed that the economic figures presented by the President indicated slowing economic growth and rising inflation.
He warned that growing financial pressures and difficulties in meeting basic living expenses had triggered public protests in several countries, suggesting that Sri Lanka could face similar challenges if economic conditions failed to improve.
Premadasa described the President’s nearly five-hour Budget speech as a “parrot-like” presentation lacking humanity and practical solutions to the problems facing ordinary citizens.
He maintained that the Budget had failed to deliver meaningful measures to ease the financial burden on households, support struggling businesses or improve employment opportunities for young people. (Newswire)