7 December, 2021

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Gota’s Economic War: Ferocity Of The Enemy Makes The Challenge Frightening

By W A Wijewardena

Dr. W.A Wijewardena

The sick economy

President Gotabaya Rajapaksa – now fondly called Gota by everyone – inherited an underperforming economy. It was just like the economy which the previous administration had inherited from his brother some five years ago. As I had presented in this column repeatedly, the economy was turning from bad to worse since around 2013 and it was the job of the previous administration to put it on the right growth path. They were successful somewhat in constitutional reforms, but regarding the economy, their performance record had been far from the desired. Hence, the economy today is characterised by sad stories all around. Gota’s immediate challenge has been to convert them into pleasant and promising stories.

What are those sad stories that confront him?

Falling growth rate 

Three weeks ago, the Department of Census and Statistics, Sri Lanka’s official statistical bureau responsible for assessing the size of the economy and its growth rate, came up with the first piece of sad news. The growth rate in the third quarter of 2019 has been 2.7%, a little up above the previous quarter’s rate of 1.6% but pretty much less than the growth of 3.5% recorded in the corresponding quarter of the previous year. Thus, in the first three quarters of 2019, the real economic growth has been at a dismal 2.7%.

Accordingly, the year is likely to end up in a rate of less than 3% as has been predicted by international agencies. What is important for Gota is the predicted economic growth rate for the next three years which if no action is taken, would settle between 3 and 3.5%. If he is to meet the targets set in his manifesto, the growth rate should practically double to 6.5%. This is indeed a Herculean task for any economic planner.

The fragile external sector

The supporting drivers of economic growth have also been very weak. Exports in the first 10 months of 2019 have been virtually stagnant, recording a growth of only 0.8%. In the services sector, the main driver of growth – tourism – has not recovered from the depth to which it had fallen after the Easter bombings. In fact, its earnings have fallen by 21% in the first 10 months. Remittances which had been the single-most important relief for the country’s fragile external sector in the past have declined by 6% during the same period.

Both agriculture and services have been at a very low level of performance. The industrial performance has been a little better, but it cannot single-handedly rescue the economy. Hence, Gota must adopt a multi-pronged approach to expand agriculture, services, tourism exports, and remittances simultaneously if the economy is to remain on course with the planned targets.

The external debt overhang

The country’s external debt overhang is looming frighteningly over Gota’s administration. That has been the cumulative effect of the original sin committed by Sri Lanka ever since it had gained independence from the British. That sin was to borrow abroad to finance local investments in the absence of adequate local savings and invest in sectors that have contributed poorly to the country’s foreign exchange earnings.

As revealed by the Central Bank statistics, in the next 12-month period, the total foreign debt servicing commitments comprising both the repayment of the principal and the payment of interest will amount to $ 6 billion. This is made up of the government’s commitments amounting to $ 4.8 billion and those of the private sector by about $ 1.2 billion. The country’s liquid foreign exchange balances after taking out the illiquid gold reserves at end-November 2019 had been some $ 6.5 billion and if it is used for debt payments, its foreign exchange reserves would fall to a critically low level. Thus, Gota’s problem is slightly different from those of the private sector borrowers.

The latter may be having rupee funds to meet its commitments and its problem is lack dollars in the country. Gota’s problem is that he has neither rupees nor dollars to do so. Hence, he has no alternative but to borrow abroad to fill his coffers and use those proceeds to repay his loan commitments. This strategy, known as loan recycling and used by all the previous successive governments, would provide only a temporary solution to the country. It adds to Gota’s, woes and, if continued unabated, those of any future administration to come to power as well.

The need for using scarce money prudently 

But, just like the previous administration had been preoccupied by constitutional reforms and a hurry to bring the alleged corrupt deals of their predecessors to justice, Gota is also preoccupied by considerations other than the economy. He has to seek Parliamentary majority in a general election in a few months’ time. Hence, all governmental resources are now being diverted to attaining that goal at the expense of sound economic policies.

Accordingly, at a time when the Treasury was limping with a huge cash shortage, he has offered a costly tax cut to citizens and jobs for 100,000 Samurdhi kids. The first would drain the Treasury of a promised revenue flow of about Rs. 600 billion and the latter would impose an unexpected cost of Rs. 42 billion on his already fragile budget numbers. That latter amount is a lot of money equal to the annual administration budgets of some 14 state universities.

This is a serious choice to be made by a government which is planning to increase the university admissions by about a quarter by establishing 300 odd university colleges. The government does not have money for this and, hence, the available moneys will have to be spent prudently.

A ‘write-off-four months’ ahead 

As far as economic rebuilding is concerned, the next four months will be a write-off for Gota since his government has to fight a Parliamentary Election to secure majority. If the voting pattern at the recently concluded Presidential Election is repeated, his government has a good chance of securing a simple majority in Parliament. But what is being fought for now is not just the simple majority but a two-third majority. The latter is needed by him to amend the Constitution and revert to the governance structure that prevailed prior to 2015.

To attain that goal, his government has to postpone all the unpopular economic reforms that are necessary to come out of the present economic malaise. Hence, the economic war has to be temporarily kept aside until the conclusion of the scheduled Parliamentary Elections. Since Sri Lanka has no time to waste, that temporary recess will surely be fatal to the country’s economic rebuilding exercise.

Inadequate capacity for developing technology

Sri Lanka has a limited scope for creating economic prosperity for its people through historically prominent growth drivers like subsistence agriculture, three tree crops comprising tea, rubber and coconut, apparels and telecommunication services. All these sectors have now reached their saturation point with the available technology. Hence, any further development leading to increased additional wealth creation known as value addition in these sectors requires the adoption of advanced technologies.

Given Sri Lanka’s inadequate capacity for developing such advanced technologies in-house, the attainment of this goal is necessarily a medium to long term objective. Hence, in the initial stage of economic development, Sri Lanka needs to use technologies developed elsewhere. This was the strategy adopted by the four Asian tigers, namely, Singapore, Taiwan, South Korea and Hong Kong. That was done by attracting foreign direct investments or FDIs with high technologies on one side and forcing local universities to get affiliated to world’s reputed universities to develop its own technology, on the other.

A good example in the present era is Sri Lanka’s competitor in most respects, Vietnam. That country which was nowhere in the global trade map some 30 years ago is the home for large technology-based manufacturers like Nike, Samsung, IBM, Intel, Fujitsu, and HP today. According to the World Bank data, Vietnam’s high-tech exports in 2017 had been 41% of its manufactured exports. The comparable figure for Sri Lanka had been just 1% implying that it has a long way to go.

To attract high technology in the initial period of economic expansion, the strategy adopted by both South Korea and Singapore could serve as guidance to Sri Lanka.

South Korea’s technology policy

South Korea’s strongman President Park Chung-hee who held the post from 1963 till 1979 had a separate technology policy side by side with his industrial policy to acquire or develop new technologies and make them available to all sectors concerned to improve productivity and go for new areas of production. In this respect, technology had been recognised as a public good to be necessarily produced by the state.

It consisted of two aspects: one was to develop new technology through research and development and improve the technologies adapted from other countries. The other was to facilitate the use of technology for going for new products and improving the existing production practices. To develop technology in-house, new research institutes were setup, while encouraging the existing universities to undertake new research and development programs.

One of the institutes so setup was the Korea Institute of Science and Technology, popularly known as KIST, with the joint participation of both the Korean and US governments. This institute was later amalgamated with the Korea Institute of Science and is presently known as Korea Advanced Institute of Science and Technology or KAIST. Its success is gauged by the number of global patents it has got and its ranking within the top 50 universities in the world and at the 6th place among Asian universities. South Korea is a technology driven economy and its high-tech exports in 2018 had amounted to 36% of manufactured exports, according to the World Bank data.

Singapore’s going for a Western Oasis

In Singapore, Prime Minister Lee Kuan Yew forced all Singaporean universities to get affiliated with universities of repute in USA and improve curricula and research capability based on such collaboration. As a result, the National University of Singapore which was relatively unknown in early 1960s got itself elevated to the 22nd position in global ranking by 2018. In addition to developing in-house capacity for technological advancement, Lee adopted a policy of attracting FDIs with high technology to the country.

To enable the expatriates from the Western world to come and work in Singapore, a conscious policy to convert the country to a Western Oasis was adopted. In this policy, Singapore improved its environment, healthcare facilities, education and transport to be on par with any developed country so that the expatriates felt as if they were working in their own countries. This was a miraculous development and today, Singapore’s high-tech exports amount to about 52% of the manufactured exports, according to the World Bank data.

Industry 4.0

Both South Korea and Singapore are presently going through the Fourth Industrial Revolution, also known as Industry 4.0 or 4IR. This is a term coined by the founder and Chairman of the Davos based World Economic Forum – Klaus Schwab – to distinguish the modern wave of high technology based global production model from the existing model of production using electronics and computers.

Gota’s problem is that Sri Lanka is still in the Second Industrial Revolution or Industry 2.0 or 2IR in which production processes are only partly mechanised. He has to make a leapfrogging from Industry 2.0 to Industry 4.0 bypassing Industry 3.0 or 3IR. This is challenging, but not impossible provided he adopts an appropriate policy package to wean the local businesses to the use of emerging technologies. Vietnam has begun this process by introducing a road map covering 2020 through 2030 in which all sectors in the economy, including education and healthcare, would go for new technologies.

Wake up and fight the war

I have discussed how Sri Lanka should go for Industry 4.0 in a previous article in this series under the title ‘Presidential Aspirants and Voters: Read IPS’s SOE 2019 before you make your next move’ (available at: http://www.ft.lk/columns/Presidential-aspirants-and-voters-Read-IPS-s-SOE-2019-before-you-make-your-next-move/4-688892). The following para from the article aptly describes the challenge before Gota: “In this context, State of the Economy 2019 (by the Institute of Policy Studies) makes the following remark: ‘It can be argued that Sri Lanka is yet to even come to terms with technologies of the third industrial revolution – electronics and information technology – leave alone those of 4IR. The reality though is the pace of change, or the quantum leap of technology from one revolution to another is so swift, that countries can no longer be complacent’.

What this means is that the world is waking up every morning with news of ‘next big thing’ hitting the market. A sleeper will find himself being overtaken by all others who are continuously awake and vigilant on the developments in new technologies”.

So, Gota should wake up and fight his economic war to a conclusion as he did in the case of his other wars.

*The writer, a former Deputy Governor of the Central Bank of Sri Lanka, can be reached at waw1949@gmail.com

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Latest comments

  • 6
    25

    No matter what Nandasena’s Economic Policies will be far better than the previous lot.

    Just read the other day that the previous Minister in Charge of Srilankan bought/ leased a second hand Airbus from Portugese, despite the vehement protests of the Srilnaka Air Craft Engineers.

    The Aircraft has been in the Hanger since 2018 because it is not airworthy..
    But the Yahapalana government has been paying USD 585000 a month for the lease .
    That is a wopping USD One Million every Six months since 2018 to daate.to date..

    That is how the UNP PM and his Yahapalana Cabinet squandered our scarsce FX reserves…

    • 6
      0

      Machan Sumaney, why don’t you go to a refresher course in Grade 5 Arithmetic before you bandy nonsensical numbers around mate?

    • 4
      0

      KASmaalam K.A. Sumanasekera

      “Just read the other day that the previous Minister in Charge of Srilankan bought/ leased a second hand Airbus from Portugese, despite the vehement protests of the Srilnaka Air Craft Engineers.”

      That aircraft was bought by Sri Lankan Air for the sole purpose of transporting Gota’s dog and Shiranthi’s brother Nishantha, flying to and from his shopping trips.

      Why are you so confused?
      Are you still being the official b***s carrier to Mahinda?

    • 3
      0

      Corruption of politicians and their business cronies who follow the Washington Consensus ECONOMIC HIT MEN are the single largest impediment to economic growth.
      The US and its Saudi and Israel Partners unleashed Economic Warfare and maritime hybrid war against Sri Lanka on Easter Sunday. let us not forget that that is the root cause of the economic war that Gota is fighting today.
      Here we have the same old Washington Consensus jargon about the 4IR being used to cause amnesia about the fundamental problems of the Lankan Economy.
      These so-called economists are part of the problem – turning a blind eye to the DIGITAL DIVIDE, and fundamental issues like the fact that the debt trap was caused by following IMF-WB-ADB fake advisors and spewing hot air about the 4IR ..

  • 9
    28

    It is very clear that economy went from bad to worse from 2015 to 2019 despite the rhetoric of so called economic maestros like Dr.Harsha de Silva who said before 2015 election that they know how to fix the economy. Who is responsible for the disaster fell upon this country:
    • Western countries who were behind the ‘Regime Change’ in 2015. They did not care what happens to the people in this country as long as they could remove Mahinda Rajapakse.
    • Voters who got exited with the slogan ‘Wenasa’ and elected Maitripala Sirisena as President
    • Maitripala Sirisena who helped Ranil who is a political disaster to become the PM.
    • Corrupt SLFP MPs who helped to form a ‘Jathika Aanduwa’ to save their skins.
    • UNP leaders and the ‘Royal Gang’ who were unprepared to handle the challenges facing the economy.
    • UNP politicians who were behind the Bond Scam that happened twice.
    • UNP leaders who were pre-occupied in pleasing the separatist Wellala politicians who wanted a new constitution with a Federal System.
    • UNP MPS who are the representatives of people that kept on supporting the leadership knowing very well that the leaders were corrupt and mishandling the economy. This bunch of politicians were not representing the wishes of the people who elected them. They forgot that they are representatives of people and thought only about the benefits they were enjoying and their pension.

    • 6
      1

      Eagle Evil, you the kind of idiots would think so, but so much were saved during the last 5 years.
      No extra vaganza as had been prior to 2015.

      Ballige putha Rajakashe abused people s funds for his SUKA WIHARANAYA even today he continues to do so. he has no hearts beyond his family. There are pictures to prove how GOLD BISQUIT business lady how she abused state funds for her shopping tours during the high days of deal ballige putha.

      All these men thought, that THEY WERE TAX PAYERs funds not MEDAMULANA rotten pit, not much debts would have been accumulated by now.

      You as one of the number asskissers of Rajapakshe you should and could take them to right track, if the criminals listened to you.

    • 4
      0

      Eagle Eye,
      Read the article carefully before start you lie propaganda. The author clearly said the diminish in economy started in 2012. In fact had early election because of that in 2015. Still the unproductive investment in Hambantota by China and the corruption deals for big commissions by Rajapaksa family are the main reasons the economic collapse.

    • 5
      0

      Eagle Eye,
      “Western countries who were behind the ‘Regime Change’ in 2015”
      .
      What would have happened if there had not been that ‘Regime Change’ in 2015? Competing in space war? Probably yes, but on Chinese loans. If you read it carefully, what this article says is where the root cause of the economic problem was.

    • 5
      0

      Western countries also were behind regime in 2019. Just, try a bit to be independent and check who prepared news articles published locally and internationally promoting Gota Rajapaksa. Last time, same international group promoted Fonsaka as war hero and changed story to. MR as war hero, and 2019, they changed story to GR as war hero.

    • 3
      0

      Now, president Gota is bribing all those thousands of crooks of criminal into his government
      all constitutional plotters are in his government
      He could not come to power if RW did not help him with being anti=Lanka at UN
      These are all planed together

  • 33
    9

    Gotabaya makes things worse. He doesn’t understand anything about economics. Only jingoism. By the time he leaves office, SL will be in a worse situation than now. RIP Sri Lanka!

    • 2
      0

      Thinker, Gota, in fact doesn’t need to understand economy, just has to follow advice of good economists. But SL’s real issue is not the economy itself, but the elements that stops economic developments under the fake, if not misunderstood nationalism.

  • 7
    20

    I have seen Sri Lankan economists living overseas discussing the true nature of Sri Lankan economy.
    I do not think the central bank was giving the true picture because it was highly influenced by the Minister concerned. On the other hand, sri Lankan economists writing articles here were of the political nature and did not give the true picture. For example, growth rate values given should be not adjusted for the inflation. In that case, the true growth must be negative.
    It is futile to blame politicians accepting wrong policies when all of them were implementing Neo-Liberal economic policies of JR Jayawardane’s and subsequently provided by the IMF.
    Sri Lankan politicians were hiding behind JVP insurrections and LTTE violence and allowed the country to go broke. Ranil was completing and it really went bad, that is how every body woke up and said. This is not the way to go. On the other hand, western businesses via MCC were waiting to take over sri Lankan businesses and some like Insurance – business is highly foreign owned. Remember Edirisinghe trust being sold to foreigners.
    Anyway, as every country does, Sri Lanka MUST concentrate on developing rural agriculture make the country self-sufficient in rice, vegetables and yams, grains, spices like thing. Then most important thing is cloths. Sri Lanka closed all the cloth manfacturing factories working Island wise.
    We talk about export and manufacturing sector. Yet, we have closed Tile, Paper, Cement, Brick, Cane Sugar, Tyres and we import those and talk about dwindling dollar reserve and the Remittances.
    All the economics we talk are for a country which has an established industrial economy and not for a country live with agriculture and basic necessities such, cement, wood, Tile etc.
    We talk about Technology Industry. But, Sri Lana is using some 60 million cell phones.

  • 13
    6

    Ranil Government’s economic policy and Law and Order administration was based on how to save the Royals in local Courts and in UNHRC. That is why he sold the Hangbangtota to China. In real nature there is no connection between these two and Economy. So during Yahapalanaya time the economy didn’t take off and crime didn’t go down. Because of that, it was big disappointment for the people who voted for Yahapalanaya. That is what Champika was talking about yesterday. He realises it now. But Hiruni had said it about two years ago that Ranil was purposely trying to lose so Duminda was going to come out and kill her family. Ranil, many times, struggled to hand over the responsibility to Royal. Now it has happened. 19 A was not about democracy or freedom of speech, but how save Ranil’s PM position. Royals will not take anybody’s advice. They just want to plan for how to get 2/3. Sinhala Buddhist Modayas are going to vote for that. That is why Old King is said yesterday “The time of calling the Sinhala Buddhist as Modayas has gone”. He knows well they are going to vote for him second time in March and prove doubly what Modayas they are.

    • 0
      6

      Mallaiyuran,

      30% of Sinhala voters and 90% of Dravida and Muslim voters who gave their vote to ‘Pad Man’ at the Presidential election are the ‘Modayas’. At the General Election 30% Sinhala ‘Moda’ voters will be reduced to 10% and wipe out anti-Sinhala, anti-Buddhist political parties and get 2/3rd in the Parliament. Get ready for Rajapakse rule for the next 20-30 years.

  • 3
    0

    WAW,
    I think that the biggest challenge GoRa (my fondness over Gota; I think that the name GoRa captures several symbolic meaning comes with any Ra..kse family members: Lack of intellect, disrespect for democracy, penchant for deception, etc. I don’t know how GoRa will ever attack corruption while having the backing of the biggest stock market thief Dilith of Derana!) is to the anti-progressive culture GoRa’s election campaign relied on. Most important is the resistance to foreign investments. The tax cut policy is another huge challenge. The ethnic hatred is another. Another one is the inherent corruption culture of SLPP politicians at all levels (GoRa will have to fight not only against sand, soil, rock & ethanol mafia but also against MaRa who has a policy of looking the other way in favor of political loyalty).

    All these factors lead to one simple conclusion: GoRa’s regime will start to fall apart by the time it reach the second year!

  • 17
    2

    Sri Lanka needs high octane people with talent to start industries or services, the problem is , in any given population, only 3% or less have this ability or gene. America has been a success because of migration and there children, if Sri Lanka can give citizenship to identified business people, then there could be exponential growth.

    • 5
      0

      Jehan @

      The kind of experts are now even more unsure of their future. And gone back to their caccoons knowing the current murderous and high crime promoting outfit would never respect what they have to say, but rather work with thugs and facists. Not having used the brain, they MR-GR duo created mountains of debts but painting the picture in favour of high investments.
      Now with 10 years gone, no outside investors are interested in Chinese made, Harbours, playgrounds and airports should be connected with the basic plans and geographical locations. right. If they brought investments were okay, but before that they should have made proper feasiblity. Now as reborn to continue the same failures by shutting the orifices fo the very same stupid people – can speed up throwing from frying pan to the fire. Basta

  • 35
    4

    Gota is another uneducated psychopath Rajapaksa and joined the Army using family connection with Mrs B after O/L.

    Gotanomics is just follow what PBJ tells him to do and I feel sorry for Prof Lakshman… shame someone with that kind of intellect got the Gov of CBSL helm.

    Interesting time ahead with so much to pay as loans payments and then India under Modi will be looking to block any Chinese infra project in SL.

    Also the tensions in Middle East and advancing crude oil will make a big impact as SL imports 90% of its oil from Iran.

    In the meantime Gota is making dramas like arrest of Ranjan to keep poor masses attention.

    • 5
      0

      Matilda,
      Things like what is happening in the M E, Particularly with respect to Iran, can have a huge consequences on SL economy b’cos Iran is one of SL’s large trading partner. I hope that the situation wouldn’t go out of hand. But, the problem is that it is hard for the international community to intervene for a peaceful solution due to Trump’s unreliable behavior. What if the killing is another WMD type hoax by Trump in order to win public approval and thereby to distract public attention from the impeachment? What ever it is, as in the case of the trade war with China, SL cannot avoid some negative economic impact.

      I believe that GoRa is also playing similar games here with several goals in mind: 1. First & foremost is earning 2/3 majority in the next election; 2. amend the constitution in order to gain more power; 3. divert attention from fake election promises; and 4. get his friends like Duminda Silva out of jail. I strongly believe that Ranjan Ramanayake incident had full backing of GoRa. It appears that the plan is to create some suspicion surrounding the circumstances leading to the guilty verdict.

      All these are parts& parcels of typical Ra..kse nature of deceptive politics. But, once the voters as well as the business/global community realize the true nature of deception, it will have huge negative effect on the economic plan; b’cos trust is everything!

  • 30
    2

    Author’s note on economy is correct. However, until and unless the communal issues are not settled there will be no economic growth. International communities are going to put blocks at every turn. Author has missed this critical point.

    • 8
      0

      Buddhist

      “International communities are going to put blocks at every turn. Author has missed this critical point.”

      Forget the International Community as Gota has received 52.25% of the majority votes, that is more than enough to pull the country out of poverty, underdevelopment, ………….. etc.

      Mahinda Rajapaksa believes the gullible Sinhalayas are no longer Modayas simply because the majority 52.25% voted for his brother.

      Were the Sinhalese Modayas before voting in this presidential elections?

      • 2
        0

        Native Vedda,

        “Were the Sinhalese Modayas before voting in this presidential elections?”

        The majority were, but not all, especially when the mean measured IQ was 79. Based on the events since independence from the high mean IQ 100 British, and the import position given to the imbecile monks, and the Modayas protesting to them, there is substantial evidence that prostrations have added to the the limitations of genetics.

        Their Para -cousins, Para-Tamils are not much different. The “High-Caste” Vellala Tamils were suppressing the “Low Caste” Tamils, and prevented them from enjoying human rights.

        The Sinhalese were not Modayas, at least the majority of them, before advent of the Para- Monks, and starting the tradition of pleading the monks and prostration.

        The monks got the kings to donate 10 percent of the nest fertile lands to the monks, to maintain their hegemony.

        See what happened in Tibet, and it took the Chinese a generation or two to fix the Monk problem.

        Who will fix the Monk Problem in the Land? Gotabaya Rajapaksa is prostrating too. The imbeciles have no clue that the monks hi jacked Buddhism and installed the Monk hegemony, by self-appointing themselves, as the 3 rd Gem of the Triple Gem. It should be Double Gem, Buddda -the founder, and Dhamma-the philosophy, only.

        So, there is a lot of circumstantial evidence to your statement.

        Two causes, genetics and Para-Sinhala Para- “Buddhism”, or Monk “Buddhism.”. To change the genetics, it will take evolutionary time. The Monk problem can be fixed in a generation or two, like what The Chinese did in Tibet.

  • 16
    3

    Dr. W A Wijewardana,

    “The country’s external debt overhang is looming frighteningly over Gota’s administration. That has been the cumulative effect of the original sin committed by Sri Lanka ever since it had gained independence from the British. That sin was to borrow abroad to finance local investments in the absence of adequate local savings and invest in sectors that have contributed poorly to the country’s foreign exchange earnings.“

    There have been many original sins, and earlier the sins are identified , recognized and confessed, higher the probability the sins can be neutralized and addressed.

    The British, mean IQ 100, did the first sin, handed it over to Paras, mean IQ 79. At least, in the case if Singapore, the mean IQ was 108,

    The Para-“Buddhists” continued to prostrate to imbecile Monks, who hijacked Buddhism, making them the 3rd Gem of the Triple Gem, after Buddha and Dhamma, by replacing the original Bohdisattas, and making Sinhala Only, and initiating a separatist war, losing on many economic development opportunities.

    The monks were happy, because the imbeciles continued to prostrate to them. That was what they wanted from the politicians and the imbeciles.

    In the meantime, thousands of women went abroad as maids to get the external remittances, while the politicians stole left and right, with impunity.

    No wonder, Gota has a challenge.

    He certainly needs fleets of white wants if he is really interested in rounding up the crooks.

    In the end it comes down to productivity, capital efficiency and competitive strength, and the economic outlook is a reflection of these factors.

    In Buddhism, from the four noble truths, the reason for unhappiness, is desire. So, Gota will likely be unhappy, because the desire for the higher growth rate will be a challenge due to the factors you identified.

    But the monks would be happy as long and the imbeciles prostrated to them.

    PS. The first 6 Kings of Lanka and people did fine without the monks.

    • 10
      3

      Dr. W A Wijewardena,

      “A good example in the present era is Sri Lanka’s competitor in most respects, Vietnam. That country which was nowhere in the global trade map some 30 years ago is the home for large technology-based manufacturers like Nike, Samsung, IBM, Intel, Fujitsu, and HP today. According to the World Bank data, Vietnam’s high-tech exports in 2017 had been 41% of its manufactured exports. The comparable figure for Sri Lanka had been just 1% implying that it has a long way to go.“

      While Vietnam has Buddhism , they do not have Para-Sinhala Para-“Buddhists ”, who prostrate to the monks. Besides the mean IQ of the Paras is 79, whereas the mean IQ of the Vietnamese is over 90.

      • 10
        2

        Dr W A wijewardena,

        http://worldpopulationreview.com/countries/average-iq-by-country/

        IQ of Vietnam 94

        IQ of Sri Lanka, 79.

        What are the other differentiators? A lot.

        • 6
          0

          Dear Bro Amrasiri,
          thanks for this info. I always respect ones get on with facts.

          See our people often overestimate us being very intelligent- but the facts compare ours only with the following countries. Beside,s the English literacy in Srilanka has fallen to all depths during the last two decades. On the web, not many read articles written in English. They restrict to their English yt videos, that only spread hatreds, hearsays and anything to divide nature further.

          El Salvador 80 6,453,553
          Zambia 79 17,861,030
          Guatemala 79 17,581,472
          Sri Lanka 79 21,323,733
          Qatar 78 2,832,067
          Nepal 78 28,608,710
          South Africa 77 58,558,270
          Comoros 77 850,886
          Senegal 76 16,296,364
          Mauritania 76 4,525,696
          Cape Verde 76 549,935
          Namibia 74 2,494,530
          Mali 74 19,658,031

          I always respect your facts.
          I still remember, how you had been been first to share that SORYSENA as the most abusive man in previous govt. There i did not agree with you, because i thought the bugger would never betray over 6.2 mio voters.

          But the very same people plus further stupid people joined hand to bring back ONE time proved highly criminals. How stupid the nation have become.
          I think their IQ levels should be far below 79.

          • 6
            0

            Dear Angered Sinhalaya,

            Yes. The results show.It is sad.
            Yes, Sira-Sevalaya(sleaze), had the tell-tale signs, but one thing we all should be thankful was at least he broke the curse temporarily, but did he make it worse, by turning out to the Traitor?

            Is it in the water?
            No, the Portuguese, the Dutch and the English , seem not affected.

            Is it in the Para-genes from South India? Partly, but the South Indians seem to do better,

            So, what is the differentiation? There is a hypothesis floating around that when the imbeciles prostrate to monks, their head is lower than their asses, and the brain reacts, by reduced stimulation, use it or lose it phenomena, and they become less intelligent.

            Prostrating to monks is bad.Even , when one sleeps, the brain is not below the ass.

            The Buddha did not require that followers prostrate to monks or trees. This happened after they hijacked Buddhism, the philosophy, and made themselves the 3rd Gem of the Triple Gem.

            So, from the four Noble Truths, the Happiness for monks is when imbeciles prostrate to them, and that is what counts, not the happiness of the imbeciles. For the imbeciles, they are unhappy, because of attachment to monks, greed, and it could be overcome, by becoming stupider, by prostrating to monks.

            However, the first 6 kings and the subjects were happy, before the monks came along. However, the Native Veddah Aethho were unhappy, without and with monks, because they were chased further into the jungle.

            • 6
              0

              Bro Amarasiri@

              see the levels of our English compared to other countries-our people behave so show off: but not knowing the truths by their eyes.

              https://en.wikipedia.org/wiki/EF_English_Proficiency_Index


              72 Maldives 48.02 Very Low Proficiency
              73 Venezuela 47.81 Very Low Proficiency
              74 Thailand 47.61 Very Low Proficiency
              75 Jordan 47.21 Very Low Proficiency
              76 Morocco 47.19 Very Low Proficiency
              77 Egypt 47.11 Very Low Proficiency
              78 Sri Lanka 47.10 Very Low Proficiency
              79 Turkey 46.81 Very Low Proficiency
              80 Qatar 46.79 Very Low Proficiency
              81 Ecuador 46.57 Very Low Proficiency
              82 Syria 46.36 Very Low Proficiency
              83 Cameroon 46.28 Very Low Proficiency
              84 Kuwait 46.22 Very Low Proficiency
              85 Azerbaijan 46.13 Very Low Proficiency
              86 Myanmar 46.00 Very Low Proficiency

              But we talk high about our 2500 year old heritage and professionals.
              :
              All is like that an ant sees his urine as large as that of a river.

              • 5
                1

                Dear Angered Sinhalaya,

                Thanks for the link.

                Well below the former British language colonies of Kenya, Malaysia, Nigeria and India.

                The achievements of Sinhala only policy, chanting in Pali and prostrating to Monks. The monks are very happy. The politicians are happy too, because the imbeciles lost the ability to think, and gradually lost their IQs, due to the Prostrating Effect.

                • 6
                  0

                  Dear Bro Amarasiri,

                  I can tolerate anyone but not this “EAGLE EYE aka Mahindala pala- the man in early 80ties but his racial natrue is beyond all racists together”:

                  In the mean time, there are reports if one would change own intake, their thinking patterns could change accordingly.

                  So we are trying to send ” a packet of PUNNAKKU made in Germany” to Eagle Eye and have been searching for Mahindapala’s postal address.
                  :
                  You are Mr Native Vedda may have this bugger’s address. Please provide us with that.

                  • 5
                    0

                    You or Mr Native Vedda may have this buggers address.
                    Please provide us with that.

                • 6
                  0

                  POliticians make big promises. None of them seem to be fulfiling the promises after coming to power. Last govt did lot more good to the nation, but their achievements were not known to the people. Even today, the very same ungrateful people attack them, but having enjoyed the pay hikes and all others earned and introduced by them.
                  I now feel, easter sunday bomb may be a calculated crime by SIRISENA and RAJAPAKSHE. Not many would trust both for their honest work. Just imagine how their 52 day FAKE govt came into being and how much of people s funds were wasted during that illegal behaviours. No matter parliament and honorable speaker was openly attacked, no justice was served in that regard.
                  This country s law and order is no different to that of a tribal country in Africa.
                  However, africans in general see it forward, while ours are lagged by facists of Rajapakshe nature.
                  My wish is, this could SHOULD be punished by nature sooner thna later.
                  I dont want to help any in ou r mother land again.
                  God bless srilanka.

        • 0
          5

          Amarasiri,
          If ‘Para’ Dravidians and ‘Para’ Muslim imbeciles are excluded, the IQ of Sinhale will be over 100.

          Those who prostrate in front of the ‘Linga’ are imbeciles and not those who prostrate in front of monks who deserve respect for the service they rendered and render to the country and society. Buddha said ‘Poojatha poojaneeyanam’ (respect those who deserve respect). Sinhala Buddhists practice Buddha’s teachings.

          ‘Para’ Dravidians, Portuguese, Dutch and British tried to destroy the culture of Sinhalayo intertwined with Buddhism and the bond between ‘Sangha’ and laymen/women. Now ‘Para’ NGO junkies are trying to do that but Native Sinhalayo will not allow that to happen. Nevertheless, you guys are free to make your living by carrying out anti-Sinhala, anti-Buddhist and anti-Sangha campaign.

          • 6
            0

            Eagle Confused Eye,

            Go with the measurements and the data. Amarasiri did a post earlier, based on the current ethnic composition, and the native genes, that the estimated IQ of the Sinhala Buddhists is 78, whereas their Native cousins from South India has a Native IQ of 81, all estimated from the measured IQ of 79 for Lanka Paras.

            Question. Why did the IQ’s drop for the Para-Sinhala “Buddhists” from the Native IQ of 81 to 78, a 3.7 percent drop?

            Prostrating to imbecile monks, by induction, and by the use it it lose it principle of evolution and natural selection of the brain?

            The reason the Native IQ of the South Indians are lower than the Native IQ of North Indians, may be because, as you say, they prostrate to lingams, the same effect in the brain.

            Stop prostrating to imbecile monks. The first 6 kings and the subjects did fine. Paying respect is one, thing. Alternately, can say Namaskar, Ayubovan, Greetings, Peace, Salam, Solom, etc., other than prostrating. Only slaves prostrate. By prostrating, the imbeciles, turn to be slaves of the monks and decrease their IQ’s in the process over the successive generations by evolution.

          • 6
            0

            Eagle Confused Eye,

            Angered sinhalaya wants to send you a gift from Germany, and looking for an address to send to. Looks like it is a natural organic food with about 30 percent oil, 25 percent protein and the balance fiber and moisture. Probably a good food to go on a keto diet, to reduce diabetes and insulin resistance.

            Probably better than most of the so-called organic Whole Foods many companies are promoting, including the SAD Diet, also called The Standard American Diet or the Western Diet, with too much sugar and refined carbohydrates, leading to diabetes and insulin resistance .

        • 5
          0

          Mr Amarasiri, thanks for the link to the average country level IQ-s. It is such a tragedy that Sri Lanka’s IQ has dropped to the last quartile (just about).

          I suppose this is the dream of malicious, time-serving, thieving, murderous, lying, cheating, envious, pompous, utterly shameless politicians, who keep hoping for this score to drop even further in order to facilitate more of the same.

          Mr Gota, Mr Mahinda and the others who fit this bill, good luck to you mates, you bloody scumbags.

          • 3
            0

            Justin Case,

            “It is such a tragedy that Sri Lanka’s IQ has dropped to the last quartile (just about).”

            There is a hypothesis floating around that says that the IQs dropped due to the Prostration Effect: Results of repeated prostrations to monks and tress.

            Can the effect of 2,300 years of prostrations be reversed? Yes? But it will rake some time. Alternately, can get the Chinese to fix it inr a generation or two, the way they did in Tibet.

            Have any of those who prostrated , and the monks achieved Nibbana or Nirvana yet?
            The monks are happy because the imbeciles keep prostrating.

            If the imbeciles want to be happy, per the four noble truths, of Buddhism, they need to give up the attachment to the monks, as it can be overcome, and stop prostrating.

  • 11
    0

    An excellent view and comment of the situation we are in at the moment. Dr. what do you think how many of Sri lanka are aware of 4th industriel revolution and even the ministers of the present govt ?
    I my self favour the system adopted by the Singapore President to collaborate with the western to bring modern technologies and to start with our own raw material and man power which to said the best educated middle class of Asia. Involving our educated youth for research and new inventions , but as i said every bit of new thoughts and good wills are sacked by our foolish politicos for their own benefits and all our discussions end up there before it even has started. A pitiful situation for our on coming generation.

  • 17
    1

    Current Govt is doing what is exactly expected (of any Lankan governments) and nothing more. Political vendetta , giving excuses, blaming previous govt and giving lots and lots of promises with no real answers or numbers to support.

  • 26
    1

    To whom are these media displays ?-
    We perfeclty know this man Dr Jayasundara was the head of the panel to have looted the former state under Mahinda DealRajaapakshe.
    To that time, his condom supporter and backcleaner, Wimal Weerawansa louded this as louder than he could.
    Very same man, keeping as the secretary Rajapakshe President to see it forward is almost like going for a HEART surgery knowing the surgeon is not reliable at all.
    Nevertheless as we dont have other experts in the bunch, Gotabaya to go for it clearly show his lack of political maturity.
    Any army officer who has performed some work in army can fulfil a task, since they work going by commands. But people to misinterpret it as calling GOTLER be the real leader is only for stupid people.

    • 0
      5

      Simon De Silva,
      While the military campaign against LTTE barbarians was going on even some foreign economists predicted that economy will collapse but that did not happen.
      During the Global Financial Crisises economies of several Asian countries collapsed but Sri Lankan economy survived.
      After the defeat of LTTE, economy picked up and grew but after the ‘Royal Gang’ headed by Mr.Batalanda took over the management of the economy after 2015, the economy collapsed and the indebtedness went up. No one knows what happened to the money these goon borrowed which is way above the requirements for debt servicing. Do you have any explanation to this economic Tsunami country faced under ‘Gawapalana’ regime?

    • 8
      0

      It is just to abuse the time, since they cant fulfil any of the pledges made before election.

      Even if no high charges and allegations or anything, MPs would be arrested to show that not only MR MINISTERs but also RW-ministers robbed the state. But the truth is , Deal BP Mahinda Rajakashe and his henchman only looted the state.
      Just imagine that MAHINDADANANDA the man who then earned just 2000 a month, became untouchable how come ?
      Why finance bodies cant or lag to see it right yet even if RTI or others have been implemented ?
      Who have they been deceiving this way ?
      How come RAJAKASHEs being able to invite over 5000 or more for the weddings of his bastard sons, whose wealth is that ? Why on earth the authorities dont seem to do the due ?
      Just optical delusions cant bring the very same NATION further ?
      Oneday, people will take the justice to their hand and demolish RAJAPKASHE kitha and kin to death or not.
      People s annoyance is not seen now but months ahead they will show
      why to get deceived on and on ?

  • 7
    1

    An elucidative article from an intelligent mind, that speaks in simple words, in the tone of a confident teacher, clarifying the current state of nation’s economy, the aim to achieve and how to get there. A total economist who wants to be objective. We need more minds like his to pull the country out of her persistent predicaments.

    Thank you, Dr. Wijewardena.

  • 15
    0

    prof peiris seior advisor to PM has said manifestos are meant to win elections and not to be implemented
    gota can take heart from that

    • 0
      2

      Prof Peiris us a Vitatha. Instead of giving something law and Order or Judiciary he was given Finance like field. Profs are really bad with Finance even in their day to day life. Pohottuwa is under his name. Now, it has been taken over by all those who supported LEGALIZED THEFTS. They say GOTA’s win is because people Love Pohottuwa.
      So, some very corrupt parliament other than the president election, progress after that is not that satisfactory. It is simply thinking that after three months every thing will be another Mahinda Chintana or Horapalanaya. They haven’t proved nothing yet.

      • 1
        0

        sorry….. something like Law and Order,……………instead they appointed Nimal Siripala who is good only sleeping at gatherings.

  • 19
    0

    Sri Lankans are far behind when it comes to technology, and tech exports are not even a dream at this time – Thanks to out-dated education system & university education. Look at the few (not more than 4) of our tech BPO providers. The entrepreneurs behind these businesses are, foreign educated or at least have done their higher studies in foreign countries or have worked in other countries and returned home.

    Sri Lankans are not challenge-takers, rather go behind getting things through privilege. For example, they work hard on getting a competitor’s business closed down to prosper their own business. Not by competing with the rival in terms of innovation, hard-work to defeating them.

  • 23
    1

    Firstly Gota is the President. He represents the party Pohottuwa. No one in the parliament was elected from this Pohottuwa.
    ..
    He’s just a pawn of the US. Rajapaksha is a Pawn of China. Both are pleasing each other’s masters while none of the promises aren’t met.
    ..
    Sri Lankan people are stupid enough to believe in proven rogues to take us forward.
    ..
    We all know that Gota cannot achieve any promise in regards to the economy, because it’s not part of the portfolio of the President.
    ..
    His direct job is security. He promised to act on it. His job is sovereignty. He speaks nothing about the Singapore Deal or the US. Looks like he has forgotten the promises.
    ..
    We all know that Gota cannot address reconciliation with his racist backing.
    ..
    In few words, he has not done his Job. Instead he keeps collecting rubbish, going to RMV. Going on a witch hunt.
    ..
    If Rajapaksha clan returns, kiss good bye to our beautiful nation.

    • 3
      0

      That is the dillemal problem. They call it POHOTTUWA party, but none of the parliamentarians are YET members of the party. If they would do so, they should be out of the parliament since dissolvement of the parliament can only be after mid of March.
      :
      Once, being tied their penises together MR-MS created a FAKE govt, and ended up being unconstitutional. Since then ballige putha Mahinda Rajakashe behaves somewhat stand still regarding taking actions against the constitution.

      However, his brother -Gota today, has been struggling not being able to do the due as he thought is right, becuase the bugger s election is fully dependent on deal BP Mahinda Rajakshe.
      :
      To be honest, if SORYSENA had backbones to stand against high corruption levels, RAJAPAKSHEs would not have sat in the parliament again. …

      • 1
        0

        I respect your faith in him. I hope you are right. But I can’t believe that he’s a victim of circumstances.

    • 0
      2

      Suranga Gunasekera
      “If Rajapaksha clan returns, kiss good bye to our beautiful nation.”

      Native Sinhalayo will make sure that Rajapakse clan who defeated Dravida LTTE barbarians and brought peace to all communities and stability to the country will return and rule this country for the next 25-30 years. If you do not like kiss the a** of Sinhalayo and leave. The period that ‘Para’ Dravidians said ‘Sinhalaya Modaya’ is over.

      • 1
        0

        Come to your senses. Darkness can never overcome the light in our hearts. Focus on the light inside yours.

      • 2
        0

        You may be dreaming EAGLE. Rajapakshes though won the last election, meaning not necessarily that the criminals with much higher crime records would be elected as MPs and Ministers.
        :
        Gota may be somewhat good with good systems since he saw them having lived in the US, but their nature of thinking, by putting and treating the others with all feudistic ,manner, cant bring us forward even under Gota. Gota has not the least knowledge how to get on with others. He is just a former army man, who though left the country at its height of the CIVIL war and sought greener pastures betraying the nation, and returned to the country for personal gains….. and the man s profile is also not good enough to give us a better leadership.

        If he can, then any former Army man should have the same skills. As you know where Army officers took the lead, ENDED up always leaving destructions. Pakistan, Sudan, Lybia and th elike countries are on the list.

    • 3
      0

      come May.2020, expect a war among the 2 brothers Chulodara and Mahodara,
      Chulodara will be supported by the Uncle Sam of USA and Mahodara the Commis in PRC.

      That will be a epic battle and god bless Sri Lanka.

      Sri Lankan Buddhists believe that the Buddha visited Kelaniya in order to quell a quarrel between the Nāga leaders of two warring factions: Chulodara (literally “the small-bellied one”) and Mahodara (literally “the big-bellied one”). They were quarrelling over a jewel-encrusted throne.
      https://en.wikipedia.org/wiki/Kelaniya

      • 2
        0

        I believe in the story. In fact 3 times Lord Buddha intervened in Sri Lankan politics. But today we rely on a lie supporting Monk Mihidu.
        ..
        In other words we are saying What Lord Buddha couldn’t do in 3 times, Monk Mihidu managed to do it.
        ..
        Even tomorrow we might not believe in the truth until disaster is knocking on the door.

    • 3
      0

      Suranga Gunesekera – Secondly Gotler is also an American citizen and has sworn allegiance to United States of America! Sorry Lanka is no longer a beautiful nation.

      • 2
        0

        I agree. All we have is the Hope for a beautiful motherland.

  • 4
    0

    To bring in SriLanka to the league of Singapore or Vietnam in the short or medium term is well neigh impossible. Conducive incentives, infrastructure development, labour laws etc need to match the demands of potential investors
    Also the education system both tertiary and higher education need to match 4.0. Sri Lanka need to establish its priorities.
    A starter , all the State Owned Enterprises (SOEs) should be privatised and some closed down for good. These SOEs adds a huge burden to the national debt. A bold Gota , should set up a small committee of comprising not more 5 members (none should be political appointment )to look into the workings or in most cases non-workings of these organisations. He will have to hold the bull by the horns and be and rid blood sucking creatures.
    Remember Vietnam had a very late start. Its never too late for Sri Lanka ; as long as the strategic thinking and directions comes from the very top and consistent

  • 2
    0

    It is good to read another typically well written and informative piece from WAW for which we should be thankful. He does not paint a pretty picture of the state of the economy. But for all that, if we are to judge by the profligacy shown by the government since GR’s election, you might be forgiven for thinking that all’s well in ‘paradise’. They have rushed to slash VAT, reduce PAYE collections, and introduce other such ‘relief’ measures, regardless of their economic cost. Surely, they haven’t had the time to even make a decent study of the prevailing state of the economy before deciding to implement measures which will obviously reduce government revenue. But of course there is a general election coming up and they are after a 2/3 majority. And, so, the ‘sweeteners’ are bound to continue, to please the electorate until election day, never mind, how prudent or not the measures are.

  • 0
    3

    Buddhist,
    Communal issues is the usual ‘Adonawa’ (lamenting) of Dravida Demalu in Sinhale. Gotabhaya will ensure that Malabar Wellala politicians will not be allowed to play hell in this country and ruin the economy. No more talks about ‘Separate State’, Federal System, Devolution of Power, Merging North and East. If Demalu and Muslims do not fall in line and help to build the economy, Native Sinhalayo know how to ruin the economy of Demalu and Muslims.
    Sinhalayo can survive without Demalu and Muslims but Demalu and Muslims cannot survive without Sinhalayo.

  • 1
    0

    The National Question needs to be resolved to solve the Economic crisis. Going head-on on the economic front alone will be a non starter.

  • 3
    0

    A hard-hitting well compiled by one who really knows his onions.
    .
    RJ@1. The racist so-called communist government since 1956 has been at the only end of looting the much sought after valuable resources of the poor beleaguered nation .

    RJ@2. The kallathoni from America who by devious underhand illegal methods has been able to take the 6.9 million petty mostly swabasha nincompoops who know being uneducated and do not know anything about where their next meal is coming from are totally clueless about how on earth does the economy works.
    Their guru, the bullshit consuming, speaking with eloquence broken English maestro who is due to his right royal families political connections with a rotten employed by the world’s most mediocre performing Lankan army who then in shee of the then battle-hardened TAMIL TIGERS, resigned his commission as a misfit of a gazetted officer
    RJ@3. How on earth will an elementary school qualified yokel who could not keep his positing in an army whose only proficiency was arson, killing, stealing the assets of the minority communities raping/sodomizing from all pores any innocent citizen or two who for their bad luck are unfortunately due to their KARMA are innocently forced to be cannon for to these racist flea-ridden mangy mongrels whose only brilliance in life harming the weak.
    RJ@4. The president, his present clowns of the cabinet of miisters at thr tine of the meeting are totally clueless on the fine art of being eloquent masters/mistresses at their supposed to fun and games once a week so-called cabinet meetings play many round of hora police.
    RJ@5. Within days of forcefully assuming office he the so called kallathoni gun ho president and his team ejaculated many a tax cut tried to release tons of hardly though being released to the people and media.

  • 1
    1

    Sri Lankan economic development go with the environment and the culture. Some districts have large numbers of Kidney patients including school children. In those areas, the use of inorganic fertilizer must be banned. It also should be banned for fruit trees which needs several years to fruit etc. In most area, old varieties should be the norm. grains, pulses, yams should replace what ever needs and that should be publicised in TV Programs as fashion. Pugoda, Matthegoda textile mills should start again. Custom duties should support manufacturing and production in sri lanka. Paddy cultivation should be subsidized in order to make youth more responsive to it. It should be modernized with Sustainable Technology. See how imaginative, initiative Indians ae. With available stuff, they produce machines that they use every day. Sri Lanka is used to inport every thing. That mentality should be changed.

  • 0
    1

    Dr. Wijewardane: You have an answer to the “Economic Problems” that the country is presently engulfed in. Of course, all what you talk are “Perennial”. That everyone knows and understands. Now you have a SOLUTION and supports two steps: (1) FDIs (2) 4IR. I think you would agree to be SUCCESSFUL in those two solutions, FIRST and FOREMOST, there must be a very “ATTRACTIVE” and a “CONDUCIVE” type of Government that handles Governing Functions based on “Good Governance” (not the one we had). To display that “Good Governance” to the world, our Executive, Legislature and the Judiciary must be of the “CLEAREST” of “CLEAREST”. Do we have that “Environment” in Governing Functions of Sri Lnka? I would say FAR, FAR from being. So until and unless that ENVIRONMENT is established , these two solutions viz. “FDIs and (2) 4RI will never work. Do you think that “Environment” and “Situation” would be established anywahere in the future. Your guess is as good as mine.

  • 1
    0

    2020 New Year RESOLUTIONS?

    Happy NEW Year and see you NEXT YEAR !

  • 0
    3

    It is futile to talk about falling growth rates when successive govts since 1978, then Opening the economy completely By Ranil in 1994 dismantled every production and manufacturing. 2015 ranil/MS govt were giving the final touch.
    We talk a lot of debt. But, no one talks about what happened to money gained by overseas remittances, and then money earned by tourism because money earned by exports are negligible and most money won’t come back. Probably, about $ 1.0 billion exports earnings are used to hide ill-gotten money overseas.

  • 2
    1

    Gotas solution is to print more money

    • 4
      0

      Rajash

      “Gotas solution is to print more money”

      Why not sell the country to China, Hindia, Arab Venture Capitalists, Malaysians, …..right to fish to Koreans, Japanese, …. oil/gas reserves to Norwegians, …Iranian, … …. Seashores to international hoteliers who are in partnership with Basil and Dynasty, …

      and enrich the clan.

  • 0
    1

    In the title {“Gota’s Economic War:…….”} Dr W A Wijewardena calls Gota lovingly as “Gota”.
    Is {“….Ferocity Of The Enemy Makes The Challenge Frightening”} tongue in cheek? The “Enemy” is within and W A W’s barber can name them. The “Challenge” is frightening alright!
    Dr W A W, is a former Deputy Governor of Central Bank of SL. He has not mentioned that the ‘Culture’ of corruption, nepotism and impunity is the “Enemy”.
    Dr W A W’s world is within CBSL and University of Jayawardenapura.

  • 4
    0

    Citizen Appeal to His Excellency ,The President of Sri Lanka.
    _______________________
    More than visiting anywhere else, I honestly believe and appeal to The President to visit both The Passport office and the NIC office.
    People are suffering even after Paying Rs.15, 000 and mostly poor people and that is what most people w
    Earn per month
    People are treated very badly by officers, Especially in the NIC Section .

    Please try to.understand most of them are poor people travelling long miles , spending whatever little money they have, sometimes borrowing money High interest .
    for how many more years should people suffer all these harrasements even after Paying the government what they can not even afford and travel to Colombo for every single need of theirs?
    The government is wasting public funds everywhere in all the councils .
    Why cant each province and local councils do this petty job and make people’s life easy?
    This must end this month.
    Please respond President , this is number one emergency.

  • 1
    0

    Asking for foreign investments,India is upgrading their railway with Japan,for their disposal they are dumping and we have to pay for it 10engines parked up maradana not suitable for tracks,crashed planes took 4 lives away not air worthy,from china,hazadous bio waste of containers being off loaded and in ours soil,but our experts think its from uk so they ask the officials to come from uk to verify,we knows the end results
    Why cant they proceed the bond Scan?
    All the politicians had the share regardless of parties
    Priority for Buddhisam,ü

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