“Loans not an option, need investments” – Says President

(UTV | COLOMBO) – President Gotabaya Rajapaksa yesterday met with EU ambassadors at the Presidential Secretariat with the discussion centred on rebuilding the economy after combating the COVID-19 crisis.

The President said Sri Lanka was able to deploy the public health system to address the threat of the pandemic.

The President noted that Public Health Inspectors with the support of the Police and the Tri-Forces were able to engage in contact tracing accurately.

President Rajapaksa pointed out that the next concern is reviving the economy, while the current growth rate remains very low and national debt high.

The President informed that in order to control the situation certain restrictions on imports were imposed, adding that this does not mean Sri Lanka will be a closed economy.

The President also expressed interest in developing domestic industries, while noting that most food items can be produced locally.

Therefore, he stressed on the need for Sri Lanka to modernize this sector.

Given the current situation, President Rajapaksa claimed that Sri Lanka would benefit from a debt moratorium and emphasized that taking further loans is not an option.

The President also directed the EU delegations’ attention to projects such as renewable energy using solar and wind.

The President’s Media Division said the EU delegation responded positively to President Gotabaya Rajapaksa and discussed at length a number of ways their respective countries could engage with Sri Lanka in areas of importance.

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