Former President Mahinda Rajapaksa hit out at the national unity government today, saying the country's economic issues have exacerbated under the current government. 

"In order to achieve a per capita income of $5,000, as proposed in Budget 2018, Sri Lanka's GDP must be more than $106.5 billion. In 2017, it was $84.9 billion. That means the economy must grow 25%. How can that be achieved at the current growth rate of 4.5%?" Rajapaksa asked, on his official Twitter account, this morning. 

"Government was trying to mislead the public by reducing taxes on certain consumer goods immediately before the presentation of Budget 2018. It is reducing taxes from the very goods on which it imposed higher taxes at previous budgets," he said. 

"While the Government is increasing revenue through heavy taxation on the public in the budget, the Government’s recurrent expenditure has increased by Rs. 868 billion, or 62%, compared to 2014. Is this how you reduce wastage?" he asked. 

"Sri Lanka's budget deficit in 2018 is expected to be Rs. 675 billion, a significant increase from Rs. 591 billion in 2014. As of December 2014, government debt was Rs. 7.4 trillion. By the end of 2018, it is expected to be more than Rs. 12 trillion, a 64% increase in 4 years.," the former President said, comparing the current economic statistics to those of his era. 

During my 9 years as President of Sri Lanka (with war & subsequent development projects), the Gov obtained a total of Rs. 5.2 trillion in loans. During the first 4 years, this Gov plans to obtain Rs. 4.7 trillion in loans. That’s 90% of how much we obtained during 9 years," he added. 

"As a result of the reduction in global oil prices, the Government would have saved more than $5 billion during the past 3 years. If used responsibly, the Government could have paid off most of the debts that were there when it assumed office in 2015,"  Rajapaksa said, while urging the government to fulfill its election pledges.