Sri Lanka’s Economic Crossroads: Harsha De Silva’s Unveiling Critique of Budget 2024

● Blatant violation of the Fiscal Management Responsibility Act in Budget 2024, with budget deficit exceeding 5%.
● Staggering increase in poverty affecting 3 to 7 million people, highlighting a critical issue overlooked in the budget.
● Critique of the government's "Oxymoron" economic approach and the absence of a comprehensive plan for making Sri Lanka an advanced economy by 2048.
● Proposal for robust measures to combat corruption, including the implementation of the STAR program.
● Emphasized reservations regarding the Macro-linked Bond (MLB) proposal, raising questions about potential benefits favoring external investors over provident fund workers during debt restructuring.
● Argued that a 30% haircut is inadequate for ensuring debt sustainability, underscoring the need for a more comprehensive and equitable approach.
● Urgency for transparency, accountability, and a visionary approach for a new economic trajectory.

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