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Interest rates reduced for SMEs – PM

The special committee selected to look into interest rate issues has suggested the decrease of interest rates approved to small and medium-sized enterprises (SME) by two percent, Prime Minister Ranil Wickremesinghe said today.

The Prime Minister said that the government had decided to implement the recommendation instantly.

We were to decrease rates last year in the budget. However the country lost billions of dollars as a result of the political disaster last year. Therefore it was not possible to do it. Also there were debts to be paid. This too pressed the interest rates. However now we are in a position to decrease interest rates said the prime minister.

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