LISTEN LIVE
WATCH LIVE
WTMJ
Sunday, May 18, 2025
48.9 °f
Milwaukee
45.8 ° Mon
45.9 ° Tue
  • Home
  • News
    • All
    • Breaking News
    • Business
    • Crime
    • Decision Wisconsin
    • Education
    • Entertainment
    • Environment
    • Featured Stories
    • Government and Politics
    • Health
    • National
    • News Features
    • Wisconsin
    “It will not pass on my watch”: President Biden speaks exclusively with 101.7 The Truth’s Sherwin Hughes

    Former President Biden diagnosed with prostate cancer

    Milwaukee, Lake Geneva

    6 teens arrested after high-speed chase ends in Milwaukee Crash

    Bringing faith to the big top via circus ministry

    Bringing faith to the big top via circus ministry

    “Way Too Hard — But Worth It”: MSOE graduates reflect on challenge, growth, and what comes next

    “Way Too Hard — But Worth It”: MSOE graduates reflect on challenge, growth, and what comes next

    Severe Thunderstorm Warning Issued across east, south-east Wisconsin

    False alarm prompts Milwaukee alderman to call for metal detectors at City Hall

  • Weather
    • Closings and Delays
    • Flight Status
    • Interactive Radar
    • Watches and Warnings
  • Traffic
    • Driver’s Ed with Debbie
  • Sports
    • Milwaukee Brewers
      • Brewers All Access Podcast
    • Milwaukee Bucks
      • Bucks in 6 Minutes
      • Bucks Talk
      • Bucks Weekly: The Podcast
    • Green Bay Packers
      • Green & Gold Insiders Podcast
    • NCAA
  • On-Air
    • Wisconsin’s Morning News
      • Everyday Hero
    • Point Taken with Steve Scaffidi & Kristin Brey
      • Best of the Hawaiian Islands with Steve Scaffidi & Fox World Travel
      • Steve Scaffidi’s Salute to Service presented by WaterStone Bank
    • The Upswing
    • Wisconsin’s Midday News
    • Wisconsin’s Afternoon News
      • America’s Music Cities Holiday with John Mercure & Collette
      • Kingdoms of Southeast Asia with John Mercure & Collette
    • What’s On Tap
      • Germany, Austria, & Czech Republic – Beer & Brewery Tour with Sandy Maxx & Journeys Connect
    • Wisconsin’s Weekend Morning News
    • The Truth: Unfiltered
    • WTMJ Conversations
    • The Mid-West Farm Report
  • Podcasts

    Wisconsin’s Morning News Podcast

    You Need To Listen Podcast

    You Need To Listen Podcast

    Brewers All Access Podcast

    WTMJ Conversations Podcast

    Point Taken with Steve Scaffidi & Kristin Brey

    Wisconsin’s Afternoon News Podcast

    Bucks Talk: The Podcast

    Bucks+ Audio Podcast

    Bucks+ Audio Podcast

    The Upswing

    What’s On Tap Podcast

    Scaffidiology Podcast

    The Truth: Unfiltered

    The Truth: Unfiltered

    Wisconsin’s Midday News Podcast

    Wisconsin’s Weekend Morning News Podcast

    Wisconsin’s Weekend Morning News Podcast

    Bucks Central Podcast

    Bucks Central Podcast

    • Wisconsin’s Morning News Podcast
    • Point Taken Podcast
    • The Upswing Podcast
    • Wisconsin’s Midday News Podcast
    • Wisconsin’s Afternoon News Podcast
    • Daily Download
    • What’s On Tap Podcast
    • Wisconsin’s Weekend Morning News Podcast
    • Decision Wisconsin Podcast
    • The Mid-West Farm Report Podcast
    • Featured Show Podcasts
      • The Accunet Mortgage and Realty Show Podcast
      • Drake & Associates Retirement Ready Podcast
      • Experience Wisconsin Podcast
      • The Fix-It Show Podcast
      • The Fox World Travel Show Podcast
      • Money Talk, The Annex Wealth Management Show Podcast
    • Brewers All Access Podcast
    • Milwaukee Bucks
      • Bucks in 6 Minutes
      • Bucks Weekly: The Podcast
      • Bucks Talk: The Podcast
    • Scaffidiology Podcast
    • WTMJ Conversations Podcast
    • WTMJ Extras Podcast
    • The Truth Unfiltered: The Podcast
    • Green & Gold Insiders Podcast
  • Specialty Shows
    • Experience Wisconsin
    • Fix It Show
    • Hired! The GKB Recruitment Show
    • Home Improvement Showcase
    • Sunday Sip
  • Partners
    • Events
      • Annex Wealth Management Webinar
      • Summerfest
      • Wisconsin State Fair
    • Features
      • Every Day Health
      • Experience Wisconsin
      • Steve Scaffidi’s Salute to Service presented by WaterStone Bank
      • The Knowledge Brokers from R&R Insurance
      • Travel Wisconsin
    • Shows
      • Accunet Mortgage & Realty Show
      • Drake & Associates Retirement Ready Show
      • Fox World Travel Show
        • Best of the Hawaiian Islands with Steve Scaffidi & Fox World Travel
      • Joshing Around Milwaukee Podcast
      • Money Talk, The Annex Wealth Management Show
      • What’s the Difference? with Gina Della
  • About
    • Schedule
    • Bios
    • Contests
    • History & Timeline
    • Advertise
    • Careers
    • Contact
No Result
View All Result
WTMJ
  • Home
  • News
    • All
    • Breaking News
    • Business
    • Crime
    • Decision Wisconsin
    • Education
    • Entertainment
    • Environment
    • Featured Stories
    • Government and Politics
    • Health
    • National
    • News Features
    • Wisconsin
    “It will not pass on my watch”: President Biden speaks exclusively with 101.7 The Truth’s Sherwin Hughes

    Former President Biden diagnosed with prostate cancer

    Milwaukee, Lake Geneva

    6 teens arrested after high-speed chase ends in Milwaukee Crash

    Bringing faith to the big top via circus ministry

    Bringing faith to the big top via circus ministry

    “Way Too Hard — But Worth It”: MSOE graduates reflect on challenge, growth, and what comes next

    “Way Too Hard — But Worth It”: MSOE graduates reflect on challenge, growth, and what comes next

    Severe Thunderstorm Warning Issued across east, south-east Wisconsin

    False alarm prompts Milwaukee alderman to call for metal detectors at City Hall

  • Weather
    • Closings and Delays
    • Flight Status
    • Interactive Radar
    • Watches and Warnings
  • Traffic
    • Driver’s Ed with Debbie
  • Sports
    • Milwaukee Brewers
      • Brewers All Access Podcast
    • Milwaukee Bucks
      • Bucks in 6 Minutes
      • Bucks Talk
      • Bucks Weekly: The Podcast
    • Green Bay Packers
      • Green & Gold Insiders Podcast
    • NCAA
  • On-Air
    • Wisconsin’s Morning News
      • Everyday Hero
    • Point Taken with Steve Scaffidi & Kristin Brey
      • Best of the Hawaiian Islands with Steve Scaffidi & Fox World Travel
      • Steve Scaffidi’s Salute to Service presented by WaterStone Bank
    • The Upswing
    • Wisconsin’s Midday News
    • Wisconsin’s Afternoon News
      • America’s Music Cities Holiday with John Mercure & Collette
      • Kingdoms of Southeast Asia with John Mercure & Collette
    • What’s On Tap
      • Germany, Austria, & Czech Republic – Beer & Brewery Tour with Sandy Maxx & Journeys Connect
    • Wisconsin’s Weekend Morning News
    • The Truth: Unfiltered
    • WTMJ Conversations
    • The Mid-West Farm Report
  • Podcasts

    Wisconsin’s Morning News Podcast

    You Need To Listen Podcast

    You Need To Listen Podcast

    Brewers All Access Podcast

    WTMJ Conversations Podcast

    Point Taken with Steve Scaffidi & Kristin Brey

    Wisconsin’s Afternoon News Podcast

    Bucks Talk: The Podcast

    Bucks+ Audio Podcast

    Bucks+ Audio Podcast

    The Upswing

    What’s On Tap Podcast

    Scaffidiology Podcast

    The Truth: Unfiltered

    The Truth: Unfiltered

    Wisconsin’s Midday News Podcast

    Wisconsin’s Weekend Morning News Podcast

    Wisconsin’s Weekend Morning News Podcast

    Bucks Central Podcast

    Bucks Central Podcast

    • Wisconsin’s Morning News Podcast
    • Point Taken Podcast
    • The Upswing Podcast
    • Wisconsin’s Midday News Podcast
    • Wisconsin’s Afternoon News Podcast
    • Daily Download
    • What’s On Tap Podcast
    • Wisconsin’s Weekend Morning News Podcast
    • Decision Wisconsin Podcast
    • The Mid-West Farm Report Podcast
    • Featured Show Podcasts
      • The Accunet Mortgage and Realty Show Podcast
      • Drake & Associates Retirement Ready Podcast
      • Experience Wisconsin Podcast
      • The Fix-It Show Podcast
      • The Fox World Travel Show Podcast
      • Money Talk, The Annex Wealth Management Show Podcast
    • Brewers All Access Podcast
    • Milwaukee Bucks
      • Bucks in 6 Minutes
      • Bucks Weekly: The Podcast
      • Bucks Talk: The Podcast
    • Scaffidiology Podcast
    • WTMJ Conversations Podcast
    • WTMJ Extras Podcast
    • The Truth Unfiltered: The Podcast
    • Green & Gold Insiders Podcast
  • Specialty Shows
    • Experience Wisconsin
    • Fix It Show
    • Hired! The GKB Recruitment Show
    • Home Improvement Showcase
    • Sunday Sip
  • Partners
    • Events
      • Annex Wealth Management Webinar
      • Summerfest
      • Wisconsin State Fair
    • Features
      • Every Day Health
      • Experience Wisconsin
      • Steve Scaffidi’s Salute to Service presented by WaterStone Bank
      • The Knowledge Brokers from R&R Insurance
      • Travel Wisconsin
    • Shows
      • Accunet Mortgage & Realty Show
      • Drake & Associates Retirement Ready Show
      • Fox World Travel Show
        • Best of the Hawaiian Islands with Steve Scaffidi & Fox World Travel
      • Joshing Around Milwaukee Podcast
      • Money Talk, The Annex Wealth Management Show
      • What’s the Difference? with Gina Della
  • About
    • Schedule
    • Bios
    • Contests
    • History & Timeline
    • Advertise
    • Careers
    • Contact
No Result
View All Result
WTMJ
No Result
View All Result

Sri Lanka’s government cuts expenses as economy tanks

by AP News
January 10, 2023, 6:23 am
in AP Business, AP News

By BHARATHA MALLAWARACHI
Associated Press

COLOMBO, Sri Lanka (AP) — Sri Lanka’s government said Tuesday it was cutting down expenses in the latest austerity drive to help it recover from its worst economic crisis.

Government spokesman and Media Minister Bandula Gunawardena said each ministry’s annual budget will be cut 5%. He said that the government was “trying its best to curtail other expenses too.”

Sri Lanka’s Parliament last month approved a 5.82 trillion rupee ($15 billion) budget, which provides for the restructuring of state-owned enterprises, reduces subsidies for electricity, and increases taxes to boost revenues based on proposals by the International Monetary Fund under a preliminary $2.9 billion bailout plan.

Unsustainable government debt, a severe balance of payments crisis and the impact of the COVID-19 pandemic led to a shortage of essentials such as fuel, medicine and food. Soaring prices have caused severe hardships for Sri Lankans, leading to a political upheaval that forced the resignation of then-President Gotabaya Rajapaksa.

His successor, Ranil Wickremesinghe, has somewhat reduced the shortages of fuel and cooking gas, but power outages continue, along with shortages of imported medicines.

Gunawardena told reporters on Tuesday the country’s economy suffered a 7% negative growth rate in 2022. “As a result, we expect that the government’s income from the taxes would drastically decline within the first three months of this year. We think this income loss would prevail throughout this year.”

“The treasury is facing its worst economic crisis,“ he said, adding that the government was struggling to raise the money needed to pay salaries of public servants.

The government is under pressure to reduce its massive bureaucracy of 1.6 million civil servants and is facing severe criticism over hiking taxes and the electricity bill.

Last year, Sri Lanka suspended repayment of nearly $7 billion in foreign debt due this year. It has since entered into a preliminary agreement with the IMF, which has agreed to provide $2.9 billion over four years depending on the willingness of Sri Lanka’s creditors to restructure their loans.

Sri Lanka’s total foreign debt exceeds $51 billion, of which $28 billion has to be repaid by 2027.

Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

Previous Post

Sri Lanka’s government cuts expenses as economy tanks

Next Post

Biden, López Obrador, Trudeau meet in Mexico City for summit

AP News

AP News

Next Post

Biden, López Obrador, Trudeau meet in Mexico City for summit

Connect with WTMJ on Social Media!

More Top Headlines

The Brewers snap the Twins 13 game winning streak in 5-2 win

by AP News
The Brewers snap the Twins 13 game winning streak in 5-2 win

MILWAUKEE (AP) — Jackson Chourio robbed Royce Lewis of a potential tying homer in the eighth inning, and the Milwaukee Brewers ended...

Read moreDetails

Former President Biden diagnosed with prostate cancer

by AP News
“It will not pass on my watch”: President Biden speaks exclusively with 101.7 The Truth’s Sherwin Hughes

WASHINGTON (AP) — Former President Joe Biden has been diagnosed with prostate cancer, his office said Sunday. Biden was seen...

Read moreDetails

6 teens arrested after high-speed chase ends in Milwaukee Crash

by Nazir Spencer
Milwaukee, Lake Geneva

WAUWATOSA, WI.,-- Six teens are in custody after a police chase that started in Wauwatosa and ended in a crash...

Read moreDetails

Sign Up For WTMJ Insiders Below:

Loading

Weather Currents

Milwaukee, United States of America
Sunday, May 18, 2025
Partly cloudy
48.9 ° f
74%
15.5mh
51 f 42 f
Mon
47 f 44 f
Tue
WTMJ

© 2025 Good Karma Broadcasting.

Navigate Site

  • Careers
  • Contact
  • EEO PUBLIC FILE REPORT
  • FCC Public File
  • FCC Applications
  • Terms of Use
  • Privacy Policy

Follow Us

No Result
View All Result
  • LISTEN LIVE
  • WATCH LIVE
  • Home
  • News
    • News
    • Local News
  • Weather
    • Weather
    • Watches and Warnings
    • Closings and Delays
    • Flight Status
  • Traffic
  • Sports
    • Sports
    • Green Bay Packers
    • Milwaukee Brewers
    • Milwaukee Bucks
  • Shows
    • Shows
    • Wisconsin’s Morning News
    • Point Taken with Steve Scaffidi & Kristin Brey
      • Best of the Hawaiian Islands with Steve Scaffidi & Fox World Travel
      • Steve Scaffidi’s Salute to Service presented by WaterStone Bank
    • The Upswing
    • Wisconsin’s Midday News
    • Wisconsin’s Afternoon News
      • America’s Music Cities Holiday with John Mercure & Collette
      • Kingdoms of Southeast Asia with John Mercure & Collette
    • What’s On Tap
      • Germany, Austria, & Czech Republic – Beer & Brewery Tour with Sandy Maxx & Journeys Connect
    • Wisconsin’s Weekend Morning News
    • The Mid-West Farm Report
    • WTMJ Conversations
    • Featured Shows
      • Accunet Mortgage & Realty Show
      • Drake & Associates Retirement Ready Show
      • Every Day Health
      • Fix It Show
      • Hired! The GKB Recruitment Show
      • Money Talk, The Annex Wealth Management Show
  • Podcasts
  • Partners
    • Events
      • Annex Wealth Management Webinar
      • Summerfest
      • Wisconsin State Fair
    • Features
      • Every Day Health
      • Experience Wisconsin
      • Steve Scaffidi’s Salute to Service presented by WaterStone Bank
      • The Knowledge Brokers from R&R Insurance
      • Travel Wisconsin
    • Shows
      • Accunet Mortgage & Realty Show
      • Drake & Associates Retirement Ready Show
      • The Fox World Travel Show
      • Joshing Around Milwaukee Podcast
      • Money Talk, The Annex Wealth Management Show
      • What’s the Difference? with Gina Della
  • Features
    • Features
    • Good Karma Give Back
  • Contests
  • Alexa

© 2025 Good Karma Broadcasting.