Finance State Minister Shehan Semasinghe highlighted the notable advancements achieved under President Ranil Wickremesinghe's leader...
Finance State Minister Shehan Semasinghe highlighted the notable advancements achieved under President Ranil Wickremesinghe's leadership, emphasizing his competence in effectively addressing the nation's economic challenges.
Semasinghe underscored the importance of President Wickremesinghe's ongoing leadership, cautioning against the misconception that just anyone could manage the country's affairs. He emphasized the President's unique expertise and suitability for the role.
During a press briefing at the Presidential Media Centre on the theme "Collective Path to a Stable Country," Semasinghe announced plans for a follow-up survey after distributing relief benefits to 2.4 million "Aswesuma" recipients. He projected around 400,000 submissions for the second phase of "Aswesuma," completing insurance provision for 2.4 million beneficiaries.
The State Minister highlighted that a revaluation survey would be conducted for the 3.4 million initial applicants, alongside a comprehensive review of the new 400,000 applications. These efforts aim to refine the selection process and ensure targeted subsidy distribution.
Semasinghe further outlined plans for a post-selection survey focusing on the "Aswesuma" beneficiaries' fund utilization and its impact on potential empowerment programs. He attributed the recent economic improvements, especially in the third and fourth quarters of 2023, to the country's adherence to financial discipline and collaborative efforts with institutions like the International Monetary Fund (IMF).
Despite ongoing challenges, there has been a systematic reduction in economic burdens. Notably, the latest economic report indicated a 0.9% decrease in inflation over the past month, signaling a strengthening rupee and a balanced economic environment.
Semasinghe praised President Wickremesinghe's leadership in steering the country through economic challenges, emphasizing the need for his continued guidance. He refuted the notion that anyone could effectively govern the nation, highlighting the importance of strategic planning and decision-making for the country's positive trajectory.
Addressing concerns about unregulated black market prices affecting public benefits from reduced inflation, the Minister of Commerce announced plans for a weekly wholesale price notification system to enhance pricing transparency.
Lastly, significant advancements were reported in the debt restructuring program, with the second IMF review finalized and approved at the staff-level. However, securing the third installment remains a challenge.
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