State Minister Ajith Nivard Cabraal says that it is not beneficial to move the country towards foreign currency by taking large amounts of foreign loans. 2300 million dollars were scheduled to be spent on light train project during the time of the previous good governance government. 1400 million dollars have been estimated for the Kelanivali project. Replying to a question from the Opposition Leader in parliament he said that a large amount of funds had to be allocated from the budget if it was attempted to implement those two projects within next year. As a result, he said essential projects that are being implemented at present, would have been affected. The total debt of the government is 72% of the gross domestic product. He said that due to the loan policy of the previous government, the debt ratio has increased to 87% of the gross domestic product.
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