News Today: Opposition Leader Sajith Premadasa criticizes the 2025 budget for failing to promote economic growth

Opposition Leader Sajith Premadasa today strongly criticized the People’s Budget 2025, accusing the government of presenting a financial plan that lacks a clear strategy for economic growth and entrepreneurship development.

Speaking in Parliament, Premadasa argued that the budget contradicts the government’s election manifesto and fails to outline a sustainable economic roadmap.

Budget Prioritizes IMF Conditions Over Development

According to Premadasa, the 2025 budget is heavily influenced by IMF conditions, with strict expenditure restrictions that ignore long-term national development needs. He stated:

“This budget fails to present a vision for economic expansion. Instead, it follows IMF directives, limiting public spending and neglecting key sectors that drive growth.”

The Opposition Leader accused the government of prioritizing fiscal control over economic revival, stating that without a clear entrepreneurship strategy, the private sector, SMEs, and local businesses would struggle to thrive.

Missed Opportunities for Entrepreneurship & Job Creation

Premadasa emphasized that the budget lacks measures to foster startups, increase job creation, or incentivize local industries. He criticized the government for not:

• Introducing tax reforms that encourage business investment.
• Supporting small and medium enterprises (SMEs).
• Investing in innovation, research, and technology-driven sectors.

“A strong economy requires innovation, investment, and opportunity. This budget provides none of that.”

Call for a Sustainable Economic Roadmap

Premadasa urged the government to revisit the budget and introduce strategic policies that would:

• Promote entrepreneurial growth.
• Enhance foreign investment without excessive borrowing.
• Strengthen the industrial sector.
• Address youth unemployment through targeted skill development programs.

Political & Economic Backlash

The parliamentary debate on the budget continues, with strong opposition from MPs who claim that the financial plan is merely austerity-driven, lacking any real development vision.

With the vote on the Second Reading scheduled for February 25th, the opposition is expected to propose amendments to ensure that the budget includes provisions for economic growth and public welfare.