Colombo: Sri Lanka’s cabinet of ministers has entrusted relevant ministries to determine which major projects in the country should be given priority given the current economic crisis, cabinet spokesman Bandula Gunawardena told reporters on Tuesday.
Addressing a press conference, Gunawardena said that President Ranil Wickremesinghe on Monday presented the cabinet with a progress report on the state of these projects, most of which are done with foreign funding.
“After we suspended making foreign debt, most of these projects have come to a halt. Some of these projects are almost complete,” Gunawardena said.
Gunawardena said the president instructed relevant ministries to evaluate the sustainability of these projects.
The president suggested that the ministers must look at what the most important projects are and determine what the best course of action is, Gunawardena said.
Sri Lanka suspended foreign debt repayment in April 2022, and in the 2023 budget, the government limited capital expenditure greatly given the economic crisis.
UNI
