Elect MPS capable of handling fiscal policies

People should elect MPS who are acting with or showing care and thought for the future. MPS have to be prudent enough to handle fiscal and monetary matters of the country.

“Currently, the country is facing a non-virtuous cycle of debt and is in a very fragile situation which can even lead to a debt crisis,” Central Bank Governor Dr. Indrajit Coomaraswamy has said. He was speaking at the Presidential Commission on Srilankan Airlines. We must take this advice seriously and take suitable, corrective action. We thank Dr. Coomaraswamy for giving such advice.

People should elect MPS who are acting with or showing care and thought for the future. MPS have to be prudent enough to handle fiscal and monetary matters of the country.

Fiscal means relating to government revenue. Fiscal policy is how the government uses taxing and spending to expand economic growth.

On the other hand, monetary means relating to money, especially the total amount of money in a country. Monetary policy is the process by which the monetary authority of a country controls either the cost of very short-term borrowings or the monetary base, often targeting an inflation or interest rate to ensure stability and general trust in the country.

When we appoint Members of Parliament, they should have the knowledge of these important principles. Let us think about this when we cast our votes at the next election. D. WEERATUNGA,

NUGEGODA