Sajith accuses Government of relying on inaccurate economic data

By The Pulseline News Desk

Opposition Leader Sajith Premadasa has accused the Government of relying on what he described as inaccurate economic data from the Central Bank of Sri Lanka (CBSL) and the Department of Census and Statistics, warning that flawed figures could result in policies that fail to reflect the realities faced by the public.

Speaking in Parliament on Tuesday (6), Premadasa challenged official assessments of the cost of living, particularly the claim that Rs. 17,719 is sufficient for an individual to meet their expenses for 30 days.

He questioned whether such figures accurately reflected the actual cost of living faced by ordinary Sri Lankans, arguing that economic policy should be based on data that properly captures the financial pressures experienced by households.

Premadasa also cited a World Bank benchmark under which an individual in an upper-middle-income country would require Rs. 2,724 per day, claiming that applying this measure would place Sri Lanka’s poverty rate at 65.4%.

He separately claimed that between 30% and 40% of Sri Lanka’s population is currently living in poverty.

The Opposition Leader said the Government’s reliance on what he considers inaccurate data was particularly concerning when decisions on taxation, poverty reduction and economic policy were being made on the basis of those figures.

He alleged that the Government had also continued the neoliberal economic policies of the previous administration despite coming to power promising a change in direction.

Premadasa further criticised the Government’s handling of the International Monetary Fund (IMF) programme and the growing tax burden, claiming that economic pressures were contributing to the departure of professionals, including doctors, from the country.

He also raised concerns over foreign investment, arguing that bureaucracy, excessive regulations and policy uncertainty were discouraging investors.

Premadasa called for greater transparency and accuracy in economic data, alongside a more people-centred economic policy focused on reducing poverty, supporting businesses and addressing the cost-of-living pressures faced by the public.