Opinion: We Have a Plan to Collect More Rupees. Where Is the Plan to Earn More Dollars?

Lanka Business Online reports that an opinion by engineer Lalith Kahatapitiya welcomes Sri Lanka’s announced target of raising government tax revenue to at least 17% of GDP by 2031. The author says stronger public finances can reduce borrowing needs and support reliable public services, but argues that a separate strategy is needed to secure foreign currency.

Lanka Business Online reports that Kahatapitiya distinguishes government revenue collected in rupees from the foreign exchange needed for external debt payments. He argues that the dollars required must come from earnings abroad, investment, reserves or additional financing, and that fiscal discipline alone cannot ensure a resilient capacity to earn foreign currency.

Lanka Business Online reports that the opinion credits debt restructuring, fiscal reforms and the IMF-supported programme with helping restore stability after Sri Lanka’s 2022 crisis. It also notes contributions from exporters, tourism businesses, overseas workers and service providers, while warning that past external pressures counsel against relying only on established sources of earnings.

Lanka Business Online reports that the author cites the IMF’s May 2026 assessment, which projects average annual public debt service in foreign currency of about 3.3% of GDP from 2027 through 2032. The opinion says these payments will need to be met alongside imports including fuel, medicines, machinery and industrial inputs. The supplied report ends before giving further details of the author’s proposed approach.

Written automatically by AI from the outlets’ own reports, and not reviewed by an editor. It can be wrong — the original report is the authority.