President Anura Kumara Dissanayake has dismissed concerns of a 2022-style economic crisis, saying Sri Lanka is better prepared to withstand current external pressures linked to global geopolitical tensions.
Speaking at the resumption of construction work on the Nindavur Cultural Centre on Friday (22), the President said developments in the Middle East and other external shocks were affecting the economy but remained manageable.
“2022 will not happen again. We will resolve this issue,” he said, adding that the country’s foreign reserve position is now significantly stronger than during the crisis period.
He noted that although global conditions are pushing up import costs and putting pressure on the rupee, Sri Lanka’s financial position has improved. “Today the Central Bank has nearly USD 7,000 million in reserves. Back then it was only USD 50 million,” he said.
The President assured that essential imports would not be disrupted. “We will not allow shortages of fuel, gas, milk powder or fertiliser. I give you that assurance,” he said.
Addressing external risks, he added that the government is capable of managing challenges beyond its control. “This is an external situation outside our control. But we are able to face it,” he said.
He also said stabilising the economy, ensuring equal application of the law, fighting corruption and reducing excessive privileges for politicians were core public expectations of the government’s mandate, and said progress was being made in those areas.
The Nindavur Cultural Centre project, launched in 1999 and halted in 2014, has now resumed after 24 years. The project aims to preserve the cultural heritage of the Ampara District and is scheduled for completion by 31 December 2027, with an estimated cost of Rs. 945 million, including Rs. 300 million allocated in the 2026 budget. (NewsWire)