President underscores need to evade debt cycle

COLOMBO (News 1st) - President Ranil Wickremesinghe has underscored the need to break free from the debt cycle and move forward.

With Sri Lanka’s economy in recovery, the President stressed the importance of not only achieving economic stability but also addressing the repayment of loans and fulfilling import requirements, all necessitating foreign exchange reserves that might require additional loans.

The President underscored the need to break free from the debt cycle and move toward a highly competitive economy capable of thriving in the global marketplace.

He said the goal is to generate revenue streams through both goods and services, with the expectation that such efforts will attract Sri Lankans who have left the country to return home.

President Ranil Wickremesinghe expressed these views during the inauguration of the National Information Technology and Business Process Management Professional Exhibition at Sirimavo Bandaranaike Hall on Wednesday (11).