SRI
  • WHO WE ARE
    • ABOUT SRI
    • WRITE FOR US
  • NEWS
    • Africa
    • Asia
    • Americas
    • Europe
    • Kashmir
    • Middle East
    • Pakistan
    • World
  • ARTICLES
    • BLOG
    • RESEARCH ARTICLES
  • INFOGRAPHICS
    • Constitutional Amendment
    • Covid-19
    • Dams
    • Economy
    • Environment
    • Fact of the day
    • Global Facts and Statistics
    • History through lens
    • Israel Attack
    • Kashmir
    • Learn the term
    • Middle East
    • Military
    • Nuclear
    • Pakistan
    • Personality
    • Quote of the day
    • Space
    • Theory Thursday
    • Today in history
    • Women in international world
  • WEB INFOGRAPHICS
  • CONTACT US
Font ResizerAa
SRISRI
Search
  • INFOGRAPHICS
  • WEB INFOGRAPHICS
  • ARTICLES
  • NEWS
    • Asia
    • Pakistan
    • Americas
    • Europe
    • Middle East
    • World
    • Ukraine crisis
Follow US
Copyright © 2024 Strategic Research institute
AsiaNEWS

After a financial crisis, Sri Lanka will reduce its army by a third

SRI NewsDesk
By SRI NewsDesk Published January 16, 2023
Share

The state minister of defense has stated that Sri Lanka will reduce its army by a third to 135,000 personnel next year and 100,000 by 2030 as the country tries to cut costs in the face of its worst economic crisis in more than seven decades.

Premitha Bandara Thennakoon stated in a statement on Friday that “military spending is basically state-borne expenditure” that “assures national and human security” and “indirectly stimulates and opens avenues for economic growth.”

The 22 million people who live on the island are still reeling from months of food and fuel shortages that made their daily lives miserable last year.

In response to the government’s debt default, President Ranil Wickremesinghe has increased taxes and slashed spending severely to facilitate the anticipated IMF bailout.

The defense ministry of Sri Lanka has announced that it will retire 65,000 soldiers from its 200,000-strong army over the course of the year. The armed forces of Sri Lanka are the next to be eliminated.

Plans to reduce Sri Lanka’s land forces to 100,000 by the end of the decade include the majority of the cuts.

Anguish and helplessness: Inside the economic protests in Sri Lanka.

Read: Sri Lanka declares bankruptcy and cuts spending as its treasury runs dry

‘Well-balanced defence force’

The minister stated, “A technically and tactically sound and well-balanced defense force is the overall aim of the strategic blueprint.”

More than a decade after the tragic ethnic civil war in Sri Lanka came to an end, the country’s armed forces remain bloated.

In 2009, when the government crushed the Tamil Tigers separatist movement in a no-holds-barred offensive that resulted in the deaths of thousands of civilians, the military had nearly 400,000 members at its peak.

Expert analysts say that security force personnel’s pay makes up half of the government’s salary bill, and defense accounted for nearly 10% of public spending last year.

Despite significant tax increases at the beginning of the year, Sri Lanka warned this week that it had barely enough revenue to pay public employees and pensions.

The public endured prolonged blackouts, long gasoline lines, empty supermarket shelves, and raging inflation, all of which contributed to the estimated 8.7 percent annual economic contraction.

The crisis reached its zenith in July when enraged protesters stormed Gotabaya Rajapaksa’s official residence, prompting him to temporarily leave the country and offer his resignation abroad.

Source: AFP

Share This Article
Facebook Twitter Email Copy Link Print
Previous Article In Nepal’s worst airplane crash in 30 years, at least 68 people died
Next Article Biden’s counsel finds 5 more classified pages at president’s Delaware home
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Your Trusted Source for Accurate and Timely Updates!

Our commitment to accuracy, impartiality, and delivering breaking news as it happens has earned us the trust of a vast audience.
268kLike
90.7kFollow
17.9kFollow
4.9kSubscribe
1kFollow

Popular Posts

Today In History (20 NOVEMBER,1910)

By SRI NewsDesk

What Is Marxism?

By SRI NewsDesk

Why is Kenya interested in sending soldiers to Haiti?

Nairobi's decision to send 1,000 police personnel to assist the crisis-ridden country of Haiti is…

By SRI NewsDesk

You Might Also Like

Gaza is burning. UK NGOs must abandon failed diplomacy and fight back
EuropeNEWS

Gaza Is Burning. UK NGOs Must Abandon Failed Diplomacy And Fight Back

Israel’s Defence Minister Israel Katz declared last week that “no humanitarian aid will enter Gaza”,…

By SRI NewsDesk
How Pope Francis redefined the Church’s ties with Africa
AfricaNEWS

How Pope Francis Redefined The Church’s Ties With Africa

Thousands of miles from the Vatican, the death of Pope Francis is being mourned by millions of…

By SRI NewsDesk
China says door for US trade talks ‘wide open’
AmericaAmericasNEWS

China Says Door For US Trade Talks ‘Wide Open’

China said on Wednesday that it was willing to engage in trade talks with Washington,…

By SRI NewsDesk
Putin discusses US-Iran nuclear talks with Omani leader
NEWSWorld

Putin Discusses US-Iran Nuclear Talks With Omani Leader

• Tehran, Washington to hold expert-level talks on Saturday • US targets Iranian LPG magnate…

By SRI NewsDesk
Show More
SRI
Facebook X-twitter Youtube Instagram Linkedin

About Us

 

Strategic Research Institute (SRI) is a non-partisan, non-political and non-governmental research organization based in Islamabad. 

Top Categories
  • BLOG
  • INFOGRAPHICS
  • NEWS
  • RESEARCH ARTICLES
Useful Links
  • ABOUT SRI
  • CONTACT US
  • WRITE FOR US
Copyright © 2025
Strategic Research institute
 
Welcome Back!

Sign in to your account

Lost your password?