Patali Champika says expenses of people have doubled in comparison to incomes

Patali Champika says expenses of people have doubled in comparison to incomes

Written by Bella Dalima

07 Oct, 2014 | 10:13 pm

Minister Patali Champika Ranawaka says the expenses of the people have doubled in comparison to their income over the past six years. He made this statement at an event held at the BMICH in Colombo on Tuesday.

The Minister added that there are several other economic problems that require attention.

The event was organised to mark the launch of a New Investment Framework for National Research and Development, including necessary reforms to transform Sri Lanka into a high income country.

The framework, compiled by the Ministry of Technology and Research, covers ten sectors including food, health and energy.

Minister of Technology and Research, Patali Champika Ranawaka said:

[quote]The growth of the people’s real income over the past six years was about three percent, but real expenditure grew by 6.7 percent. That is how the cost of living crisis has evolved. At the same time the 20 percent earning the lowest income have 4 percent of the national income while the richest 20 percent have 52 percent of the national income. Thus a major wealth gap has been created among the people. Although poverty has reduced to 6.7 percent, only a small proportion of the poor are able to face issues like food security, national crises and environmental crises.[/quote]

 

 

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