Colombo, Feb 4 (PTI) – President Anura Kumara Dissanayake emphasized the need for Sri Lanka to work collectively towards economic independence rather than remain vulnerable to the fluctuations of the global economic system. Addressing the 77th Independence Day celebrations on Tuesday, Dissanayake reaffirmed his commitment to national unity and economic resilience.
"Collectively, we must persist in our struggle for freedom on behalf of this motherland," the 56-year-old president declared. "To secure our economic freedom, rather than succumbing to weakness in the global economic system and being overwhelmed by its every fluctuation, we must unite in our efforts for this motherland."
In line with his administration’s commitment to reducing state expenditures amid Sri Lanka’s ongoing economic recovery, this year’s Independence Day celebrations were notably scaled down. The military parade featured only 1,800 personnel, a reduction of over 1,500 from the previous year. Additionally, only three aircraft participated in the event, compared to the 19 deployed last year.
Dissanayake, who assumed the presidency following a narrow victory in the September 2024 election, led his National People's Power (NPP) party to an unprecedented triumph in the November parliamentary elections. The NPP secured a two-thirds majority in the 225-member assembly, a feat not achieved since 1989. The party also garnered substantial support in Tamil-majority regions, marking a historic shift as Tamils distanced themselves from traditional Sinhala-majority parties.
Upon taking office, Dissanayake inherited an economy severely impacted by the 2022 financial crisis. His administration has since overseen the final stages of Sri Lanka’s external debt restructuring—an effort largely initiated by his predecessor, Ranil Wickremesinghe, before the last presidential election.
Sri Lanka’s economic challenges reached a critical point in April 2022, when the island nation declared its first-ever sovereign default since gaining independence from Britain in 1948. As the country works towards economic stability, Dissanayake’s call for unity underscores the government's strategy of self-reliance and fiscal responsibility.
