President to address the nation on Wednesday amid economic crisis, protests

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By Editor_1
Former president Gotabaya Rajapaksa –army.lk/File
0

COLOMBO –President Gotabaya Rajapaksa will address the nation on Wednesday (16), his media unit said, as public protests intensify amid a sharp rise in prices of all essential goods and services following the free fall of the rupee

The content of the speech is expected to be the prevailing situation in the country.

Since the central bank allowed flexibility in the exchange rate on March 8, the rupee has fallen nearly 32% so far.

With the rupee fall, prices of fuel, wheat flour, transport, rice packets, container transport, air tickets, and many other essential goods have been raised and the public has got on to the streets in protest of the rising cost of living.

The president’s speech also comes as opposition parties called people to join them for protests against the government’s economic mismanagement and policy failures.

The opposition protests blame Rajapaksa’s Sri Lanka Podujana Peramuna (SLPP)-led government for a messed up fertilizer policy and mismanagement of economic policies.

The main opposition Samagi Jana Balawegaya has planned a protest in Colombo on Tuesday (15).

The country has seen shortages of fuel, cooking gas, milk powder, sugar, and wheat flour in the recent past mainly due to severe shortage of US dollars, as the island nation’s reserves dwindled over 70% in the first 11 month of 2021.

The fuel shortage has resulted in extended power cuts across the country.

-economynext.com

 

Editor_1
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