By In an exclusive interview with The Sunday Morning, biodiversity scientist and public policy advocate Rohan Pethiyagoda issued a stark warning about Sri Lanka’s economic trajectory, emphasizing the inevitability of a crash if spending continues to outpace earnings. Pethiyagoda highlighted the government’s alarming Rs. 3 trillion deficit this year alone, attributing it to unsustainable borrowing practices.
According to Pethiyagoda, the root of the issue lies in politicians’ failure to comprehend and address the nation’s fiscal challenges. He criticized the political reluctance to advocate for drastic cuts in government spending, necessary to avert a financial meltdown.
Discussing the upcoming elections, Pethiyagoda predicted a fragmented political landscape, with Ranil Wickremesinghe likely to form a coalition encompassing the SLPP and minority parties, while marginalizing Sajith Premadasa. However, he cautioned against underestimating the potential influence of the Rajapaksa family.
Addressing societal concerns, Pethiyagoda lamented the disparity in attention given to crimes based on social class, highlighting the media’s role in perpetuating this bias.
Regarding Sri Lanka’s future, Pethiyagoda emphasized the nation’s resilience amid adversity but warned of the looming threat posed by its escalating overseas debt. He criticized the lack of political will to implement necessary reforms, citing entrenched interests hindering meaningful change.
Pethiyagoda’s insights underscored the urgency for Sri Lanka to confront its economic challenges head-on, urging a departure from unsustainable practices and advocating for pragmatic solutions to secure a more stable future.
