Sri Lankan economy collapses day by day!

 

Sri Lankan economy will face a big issue in future if we do not increase the External Reserves says the professor of Business economics division in Jayawardenapura University, Mr.Janak Kumarasinghe.

Because of the problematic situation on Foreign Reserves our country might face many issues when borrowing money from other countries and specially we will have to abide many conditions, he mentioned further. He also mentioned that per personal debt of the country has already reached 600,000 by now.

There was a big discussion last feW days about the foreign reserves in the country. Many suspected that the dollar value will rise up more than the rupee relatively. It was also considered as a reason to the fuel price hike.

According to the Central Bank data there were USD 5.7billion Foreign Reserves in the country but it has reduced upto USD 4.6 billions by the first half of the year and USD 4.1 billions by last March.

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