FactCheck: Recent submissions
Now showing items 21-40 of 227
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Nalaka Godahewa: Tax targets
(www.factcheck.lk, 10/26/2023)FALSE: […] The expected tax income for 2023 is Rs 3,130 billion [a 70% increase from 2022]. It is not something practical. Since the tax net is not functioning properly, the tax burden will fall on the same people who paid ... -
Harsha de Silva: Real Returns on EPF
(www.factcheck.lk, 9/29/2023)TRUE: […] In the [EPF] Act itself it specifies 2.5% return. […] at the time inflation was at around 1 percent, if you look at 5 years prior to 1958, the average would have been 1 percent. […] Over the years, some years ... -
Wimalaweera Dissanayake: Health sector
(www.factcheck.lk, 9/7/2023)PARTLY TRUE: Even in the midst of all the shortcomings, it’s Sri Lanka that has the best health service in South Asia. Wimalaweera Dissanayake, The Life Traveler, 19 July 2023 -
Harini Amarasuriya: Unpaid care work
(www.factcheck.lk, 8/17/2023)TRUE: …there are a few factors that are not considered when measuring the contribution to the labour force…[a] large chunk of unremunerated work done by women is the main type of work that is not included in these statistics. ... -
Udaya Gammanpila: Provident funds
(www.factcheck.lk, 8/10/2023)TRUE: In addition to the provident fund of the general public, CBSL also maintains a separate provident fund for its officers […] CBSL invested its funds in places where it could get the highest returns and credited an ... -
Rauff Hakeem: Governance and Economic Crimes
(www.factcheck.lk, 8/3/2023)PARTLY TRUE: Come September, we will be the first Asian country to be subjected to IMF review of governance diagnostic. [...] In the meantime, even in the Geneva Resolution against Sri Lanka, they spoke about the need to ... -
Udaya Gammanpila: Domestic Debt Restructuring
(www.factcheck.lk, 7/27/2023)TRUE: The IMF has not imposed a condition saying to restructure domestic debt. ….. That being the case, who has intimidated us to the point of doing this? What has happened is that foreign bondholders – sovereign bondholders ... -
Ranjith Siyabalapitiya: Vehicle imports
(www.factcheck.lk, 7/20/2023)TRUE: ...within that period [2015-2020], we have brought 2,498,714 vehicles...worth Rs. 1,331.51 billion...We have taxed [them to the value of] 991.12 billion. Ranjith Siyambalapitiya, YouTube Page of Parliament of Sri ... -
Harin Fernando: Chinese tourists
(www.factcheck.lk, 7/13/2023)PARTLY TRUE: If each Chinese tourist spent $5,000 that could raise a figure comparable to the recent International Monetary Fund bailout…If you really look at it, tourism can get Sri Lanka out of this mess. Harin Fernando, ... -
Ranil Wickremesinghe: Inflation
(www.factcheck.lk, 7/7/2023)PARTLY TRUE: Inflation, which had skyrocketed to 70 percent, has now decreased to 25.2 percent, lightening the burden of daily life for all of us. Ranil Wickremesinghe, Presidential Secretariat of Sri Lanka, 1 June 2023 -
Kabir Hashim: Poverty line
(www.factcheck.lk, 6/29/2023)TRUE: “…by 2019…the poverty line[sic] of this country was 11%…it has grown to 25% by 2023. I believe it is more than that. But the World Bank has calculated that it is only 25%, which means that out of 22 million in this ... -
Udaya Gammanpila: Increase in electricity bill
(www.factcheck.lk, 6/22/2023)PARTLY TRUE: From the very short period between last year's August and this year's March…the [electricity] bill increase [was]…1,138% for the poor man [a consumer who uses 30 units] and 160% for the rich man [a person using ... -
Ranjith Siyabalapitiya: Fiscal stability
(www.factcheck.lk, 6/15/2023)PARTLY TRUE: …we are coming step by step towards fiscal stability. Even the IMF calculated that for this first quarter, our primary account balance will be negative by Rs. 56 billion. But we have brought this quarter…to a ... -
Bandula Gunawardane: Fiscal Management (Responsibility) Act
(www.factcheck.lk, 6/8/2023)TRUE: …. the Fiscal Management Responsibility Act No. 3 of 2003…had three main goals…to maintain the budget gap below 5%..... reducing public debt as a percentage of GDP to 65% by 2013, that is, in 10 years…. reducing the ... -
Harsha de Silva: EPF and ETF
(www.factcheck.lk, 5/25/2023)TRUE: The majority of Sri Lanka’s domestic debt is in treasury bonds. We have [almost 9,000 billion] worth of treasury bonds….44.5% of that is in banks….43% was borrowed from EPF & ETF. Harsha de Silva, Daily FT, 20 April 2023 -
Ranil Wickremesinghe: Debt restructuring
(www.factcheck.lk, 5/18/2023)TRUE: Programme financing gaps: debt service reduction during 2023-27 should be sufficient to close external financing gaps. Under staff baseline scenario, US$17 billion in debt service reduction is required, including the ... -
Manusha Nayanakkara: Rise in remittances
(www.factcheck.lk, 5/11/2023)TRUE: Sri Lankan migrant workers’ foreign remittances increased to US$ 568.3 million in March 2023 from US$ 318.4 million in March 2022. This is a 78.5% (US$ 249.9 million) increase compared to the inflows recorded in March ... -
Wimal Weerasansa: Total Export Income
(www.factcheck.lk, 5/4/2023)FALSE: The total export income has reduced by almost 10% this year when compared to last year. This is a huge reduction. Therefore, it is clear that the economic strategy the government is following under the guidance of ... -
Nandalal Weerasighe: Money Printing
(www.factcheck.lk, 4/27/2023)TRUE: The total base money printed in 2021 was Rs. 344 billion, whilst the net basis reserve money issued in 2022 was below Rs. 40 billion. Nandalal Weerasinghe, Daily FT, 11 February 2023 -
Susil Premajayantha: Efficiency of IMF process
(www.factcheck.lk, 4/26/2023)BLATANTLY FALSE: On previous occasions, we obtained money from the IMF after pledging to fulfil their conditions...this time round, we had to first fulfil those conditions to obtain assistance. It was only Sri Lanka that ...