FactCheck: Recent submissions
Now showing items 61-80 of 253
-
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 ... -
Kanchana Wijesekera: Fuel Price Formula
(www.factcheck.lk, 4/21/2023)PARTLY TRUE: Fuel Cost Breakdown - Data for the formula from actual cost incurred during the immediate past 28 days period from 28th February - 28th March 2023….Price difference (between the formula base price per litre ... -
Ranjith Siyabalapitiya: On tax paying labour force
(www.factcheck.lk, 3/16/2023)FALSE: "Only 120,965 persons or 2.6 percent of the labour force, who are earning over Rs.100,000 per month, are subjected to the PAYE tax." Ranjith Siyabalapitiya, Daily Mirror, 11 February 2023 -
Patali Champika Ranawaka: True on SL’s uneasy equilibrium, false on fuel bill savings
(www.factcheck.lk , 2/13/2023)PARTLY TRUE: …the current normalcy in the country is at a low-level equilibrium. This is an uneasy equilibrium.... Our normal [monthly] fuel bill stood at US $ 550 million. It has now been cut down to US $ 200 million… Patali ... -
Ranil Wickremesinghe: Direct and Indirect Taxes
(www.factcheck.lk , 2/17/2023)TRUE: In other countries, most of the taxes are collected from a higher income bracket. In 2021, in India – 50% direct tax…Bangladesh – direct tax 32%...Nepal – direct 31%....69%. Indonesia – direct tax 40%...Vietnam – ... -
Ranil Wickremesinghe: Income Tax Files
(www.factcheck.lk , 3/9/2023)TRUE: In 2019, there were 1.5 million income tax files in total…when we abolished the PAYE tax, in December 2021, we [only] had 400,000 income tax files. It reduced from 1.5 million to 400,000. Ranil Wickremesinghe, ... -
Anura Kumara Dissanayake - National Wealth
(www.factcheck.lk , 3/2/2023)PARTLY TRUE: Today, 36% of our country’s national wealth is generated from the Western Province. The North Central Province’s contribution to our country’s national wealth is 5%. The contribution of the North Western ... -
Ranjith Siyambalapitiya: Import Shortage
(www.factcheck.lk , 2/23/2023)FALSE: …It is because this step was taken [ban imports on certain items] that essential items such as fuel, medicine and fertiliser can be imported without any shortages… Ranjith Siyabalapitiya, Newswire, 26 January 2023 -
Ranjit Siyabalapitiya: Fiscal Position
(www.factcheck.lk , 2/2/2023)FALSE: In 2022, the government’s revenue and expenditure difference were as high as 256% or Rs. 3,058 billion. [In 2023] The government expect the revenue to be Rs. 3.45 trillion, while the expenditure will go up to Rs. ... -
Kanchana Wijesekera: Electricity Generation Cost
(www.factcheck.lk , 1/27/2023)PARTLY TRUE: If we are in a situation where there is no rainfall, provided that we are able to obtain all the coal we need by April, we would be able to provide electricity all 24 hours of the day, without interruptions…That ... -
Mano Ganesan: Food Insecurity
(www.factcheck.lk , 1/12/2023)CORRECT: Food insecurity in Sri Lanka is highest in the estate sector at 51%, while it is 43% in the urban sector and 34% in the rural sector. The World Bank has reported that the country’s poverty rate has climbed to 26% ... -
Ashok Abeysinghe: Government Revenue Estimates
(www.factcheck.lk , 1/20/2023)FALSE: …The [2023] budget presented this time is seeking the highest revenue in the entire history of Sri Lanka. Compared to last year, this year’s revenue shows an increase of 70%. In Sri Lanka, at no point has the revenue ... -
Ruwan Wijewardene: Debt increase
(www.factcheck.lk, 7/28/2022)TRUE: Some people in the present government say that the country has come to this situation because we [yahapalana government] took loans. 80% of the loans we took were used for settling the loans obtained by Mahinda ...