Country's debt down to 70% by 2020 - PM

Country’s debt down to 70% by 2020 – PM

Prime Minister Ranil Wickremesinghe has pledged to reduce the country’s debt service to 70 per cent of the revenue of the government by the year 2020.

Speaking during an event in Kurunegala, Prime Minister Wickremesinghe said the country is facing a foreign currency issue at present and emphasised the need to transfer the country into an export-driven economy.

Premier Wickremesinghe said the good governance government has managed to increase the state revenue by ten per cent however said the country is short of US dollars at present.

The Prime Minister also urged industries to restructure in a bid to increase exports and attract investments. Commenting on infrastructure schemes, Prime Minister Ranil Wickremesinghe said the Kurunegala district will benefit from the Central expressway project.

The Prime Minister added several development projects will also take place from Hambantota to Kandy via Kurunegala in the near future.