In a revelation that’s turning heads in economic and political circles, Deputy Minister of Finance and Planning Dr. Harshana Suriyapperuma told Parliament that Sri Lanka did not engage in reckless money printing between 2015 and the 2024 Presidential Election despite printing over Rs. 2.25 trillion during that period.
Responding to a question raised by National People’s Power MP Ravindra Bandara, Dr. Suriyapperuma disclosed that the Central Bank of Sri Lanka printed a total of Rs. 2,250.12 billion, including Rs. 2,240.85 billion in currency notes and Rs. 9.27 billion in coins. But he was quick to defend the action, saying the printing was not arbitrary it was aligned with the country’s economic needs.
“There was no uncontrolled or irresponsible printing of money,” the minister emphasized. “As the economy grows, so does the demand for currency. Controlled money printing is not only normal it’s necessary.”
According to the deputy minister, printing money becomes problematic only when it exceeds the economy’s capacity to produce goods and services. If managed properly, however, increased money supply can actually drive sustainable economic growth without triggering runaway inflation.
“When the money supply rises in line with total production, it supports healthy expansion,” the minister explained. “Problems arise only when money is printed far beyond the country’s economic output.”
He also cautioned that excessive or unrestrained money printing can backfire in the medium and long term, creating inflationary pressure that erodes public purchasing power and destabilizes growth.
The statement has sparked renewed debate over Sri Lanka’s monetary policies, especially in light of past inflation spikes and currency depreciation. While critics have often accused past governments of fueling inflation through reckless printing, the Finance Ministry insists this was not the case between 2015 and 2024.
Whether the public buys into that narrative remains to be seen but with Rs. 2.25 trillion added to circulation, the discussion is far from over.
