Many will lose their jobs in the future - Central Bank Governor

 Many will lose their jobs in the future - Central Bank Governor

Central Bank Governor Dr. Nandalal Weerasinghe has said that no one can bring inflation below 30% to 40% in the next six months and that the economy is expected to shrink at a rate higher than anyyear we have ever seen in history.

The Governor of the Central Bank Dr. Nandalal Weerasinghe addressing a forum organized by the Press Club of Sri Lanka said, The Governor further said,

“In the next 3-6 months, there will be only a limited amount of economic activity in the country. That is, the economy is shrinking. It is our expectation that this year the economy will shrink at a rate higher than any year we have ever experienced in history.

No one can bring inflation below 30% to 40% in the next 6 months. This is an issue that severely affects the poor and vulnerable.

Especially if the government does not provide support, it will be difficult for the low income poor to live on their income. You will see poverty levels rising in this country. Most will fall below the poverty line.

We will see more people losing their jobs as the economy shrinks. That's because small and medium enterprises can't run normally. ” He said.

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