Damage control measures saved Sri Lanka’s economy : PM Rajapaksa

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Prime Minister Mahinda Rajapaksa has said the country would have plunged into an economic crisis if the government had not implemented damage control measures.

“Sri Lanka has been able to move forward while meticulously managing the economy during this period (the COVID-19) pandemic,” Rajapaksa said in a statement on Wednesday.

He pointed out that the government has offered debt moratoriums to uplift businesses and provided relief to the people to ease the cost of living woes since the outbreak of the virus.

“We also offered relief on tax and interest for Small and Medium Scale Enterprises to prevent their downfall,” the Prime Minister said adding that businesses would have been affected if not for these measures.

He added that the situation could have prompted a collapse of the economy and led to the deferment of the country’s debt.