Sri Lanka’s Opposition Leader Sajith Premadasa has said that the government’s 2027 Budget risks sparking civil unrest by failing to tackle severe poverty, high youth unemployment and the escalating cost of living.
Addressing journalists at Parliament following president Anura Kumara Dissanayake’s nearly five-hour address, Premadasa accused the government of ignoring the daily survival struggles of the nation’s 22 million citizens.
He warned that worsening financial pressures and difficulties in affording basic necessities had recently triggered public demonstrations in several other nations, suggesting Sri Lanka could face comparable instability unless economic conditions improve.
He said that the macroeconomic figures presented by the president pointed towards slowing growth alongside rising inflation, while offering no tangible measures to curb consumer prices or ease household financial burdens.
Turning to the business sector, the opposition leader criticised the lack of substantial support for micro, small and medium-sized enterprises, which he noted employ roughly four million people and generate 52% of the country’s gross domestic product.
He noted that channelling proposed interest-free loans through the existing banking network would primarily favour established borrowers, leaving entrepreneurs who suffered recent economic setbacks unable to access vital credit.
Furthermore, he questioned the government’s strategy to foster young business owners, asserting that the proposals lacked practical mechanisms to supply essential start-up and working capital.
Citing data he attributed to the World Bank and the International Monetary Fund, Premadasa said that poverty levels had surpassed 60% while unemployment among educated youths had reached 43%.
He accused the government of failing to introduce effective policies to lift vulnerable communities out of deprivation or expand job prospects for younger generations.
Dismissing the oresident’s lengthy address as a repetitive presentation devoid of compassion or practical remedies, he said that the fiscal plan offered no genuine relief to struggling households and businesses.
