Oct 17 2006

Sri Lanka second highest inflationary rate in the region

Published by at 5:07 pm under Finance,Sri Lanka

Mr. Bandula Gunawardena a former deputy finance minister said that group of officials of the finance ministry who operate covertly have pushed the President, the cabinet and the parliament into a severe financial crisis by hoodwinking the them. He added that they have dragged the President to hell.

Commenting on the vicious spiral of rising prices he said that the government today admitted that the budget for 2006 has collapsed and the estimates have exceeded the original figures. The government approved an additional estimate of 109000 million today due to this, he said.
The government introduced the new Rs. 2000/- note today and with that 2000 note you cannot purchase what you purchased from Rs. 1000/- at the beginning of the year.

Today the inflation is 15.4 percent and other than Indonesia Sri Lanka records the highest inflationary rate in the region he said.


President Dragged to hell – Bandula

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