Economic and political analysts said that the passage of the Public Financial Management and Economic Transformation Bills in Parliament without a vote is an endorsement of President Ranil Wickremesinghe’s economic policies by all parties, Ministers and MPs in Parliament. The draft Bills were passed in Parliament on July 25 with some Amendments at the Committee Stage. None of the parties called for a vote and it has been confirmed that they have accepted the President’s economic direction.
Sri Lanka experienced an unprecedented financial crisis in 2001 and 2022, since Independence and Sri Lanka’s economic growth dropped to minus 1.4 and minus 7.8. On both occasions, President Wickremesinghe worked tirelessly to restore the country’s financial stability.
The analysts said that this shows that the Ministers and MPs had accepted that the entire society had endorsed the President’s program to provide relief to the masses with the assistance of the IMF and strengthening the economy since last year by ending the shortage of fuel, electricity and gas that plagued the country for many months.
The analysts said that all parties had endorsed the efforts of the President to steer the country towards a robust economy by entering into agreements to have the debt moratorium until 2027 and by presenting Bills to strengthen the economy.
