More than half of the budget is allocated to debt interest payments.

President Ranil Wickramasinghe says that 55% of the upcoming budget has been allocated to pay interest on loans.

Accordingly, the President stated that 2500 billion rupees should be paid as loan interest and the value of the rupee should be protected.

The President has further pointed out that the VAT will have to be increased to 18% and it will be difficult to do it near an election, but if it is not done, everyone’s future will be destroyed.

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