President’s economic strategy the only path forward – Minister Bandula Gunawardane

Minister of Highways, Transport, and Mass Media Dr. Bandula Gunawardena, during a press conference held at the Presidential Media Center, themed ‘Collective Path to a Stable Country’ on Monday (12) said that the President’s economic strategy was the only path for Sri Lanka’s economic development and reiterated that the government was ready to explore any alternative (justified by facts and figures) that  anyone could suggest.

The minister aired his concerns over misinformation regarding public financial management and the inadequacy of mere rhetoric in addressing Sri Lanka’s economic challenges.

Dr Gunawardena said that total tax revenue in 2023 amounted to Rs. 3201 billion, sourced from various departments including the Department of Inland Revenue (Rs1550 billion), Sri Lanka Customs (Rs 923 billion), Excise Department (Rs 169 billion) and Department of Motor Traffic (Rs 2 billion)0. However, the Treasury’s expenditure surpassed this, reaching Rs. 4,394 billion.