In anticipation of next year’s Presidential election, President Ranil Wickremesinghe disclosed that he has yet to decide on seeking re-election, emphasizing his current dedication to steering Sri Lanka away from bankruptcy.
Addressing queries during a meeting with Editors at the Presidential Secretariat, President Wickremesinghe neither confirmed nor denied his intentions regarding the upcoming election, stating, “My primary focus right now is to terminate Sri Lanka from bankruptcy, and then I will decide.”
Regarding the future of his political party, the United National Party (UNP), the President acknowledged the defeat of UNP MPs in the last General Election, attributing it to their commitment to the truth about the economy. He affirmed the UNP’s intention to regroup and make a comeback before the next elections.
President Wickremesinghe outlined the government’s strategy for economic recovery, emphasizing the need to limit expenditure, enhance efficiency, and live within means—an approach reflected in the recently presented budget. He underscored the budget’s alignment with IMF expectations and highlighted recent investments from the US International Development Finance Corporation and Adani Group, citing them as indicators of confidence in the country’s economic recovery.
In terms of international trade, the President stressed the importance of competitiveness, expressing plans to increase trade opportunities with the RCEP block, India, Bangladesh, and the EU.
Responding to concerns about government revenue targets, President Wickremesinghe pointed out a 55% increase in tax collection over the last year. He expressed optimism about meeting future revenue projections, citing plans for improved tax administration and collection efficiency through the establishment of a Revenue Authority.
