Sri Lanka Economic Crisis: Bankrupt Sri Lanka is going to drastically cut its army. Sri Lanka’s Defense Ministry said on Friday that the government is facing an unprecedented economic crisis and we are working to bring our battered economy back on track. After bankruptcy, Sri Lanka is still suffering from the shortage of food and fuel.
The army strength in Sri Lanka will be reduced to 1,35,000 by 2024 from the current sanctioned strength of 2,00,783. A Sri Lankan minister gave this information here on Friday. “By 2030, the number will be further reduced to 100,000,” Minister of State for Defense Pramit Bandara Tennakoon told the media.
Military strength and sustainable economic development are coinciding…
Minister Pramit Bandara Tennakoon said that military strength and sustainable economic development are two sides of the same coin, Xinhua news agency reported. He said that military expenditure indirectly encourages and opens the way for economic development by ensuring national and human security.
Nearly 400,000 people served in 2009
He said that the government has come out with a strategic blueprint to set up a technically and tactically strong and well-balanced defense force by the year 2030 to meet the future security challenges in line with the country’s national security needs. In the year 2009, about 400,000 people served in the Sri Lankan army.
According to the figures, the current army of Sri Lanka was about 10 percent of the total public expenditure, these figures are of the public expenditure of the last year. Sri Lanka warned this week that it did not have the money to pay pensions to government employees despite a massive tax hike at the start of the new year. Explain that Sri Lanka’s economy was less than the estimated 8.7 percent last year.
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