President vows...

The Kadawatha—Mirigama section is estimated to cost Rs. 229.53 billion, financed through a mix of domestic funds and a concessional loan from China. Construction of the Kadawatha interchange and the first 500 metres of the expressway, costing Rs. 8.69 billion, is already underway using local funds. The full section is scheduled for completion by mid-2028.

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The event was attended by Chinese Ambassador to Sri Lanka Qi Zhenhong and other representatives of the Chinese Government as well as several Sri Lankan MPs, Ministers and public officials.

President Disanayake highlighted the role of his January State visit to Beijing in reviving stalled infrastructure.

“I requested President Xi Jinping’s support to restart the projects in Sri Lanka that had been suspended under Chinese assistance. He paid special attention and agreed to provide the necessary support,” he said, adding that the Export-Import Bank of China had offered a concessional Yuan-denominated loan at an interest rate between 2.5% and 3.5%.

Stressing the importance of infrastructure, the President cautioned against relying on it alone. “Infrastructure is one part of development, but if it stands alone, it becomes distorted. Our country has pursued such a distorted strategy in the past,” he noted.

He outlined a broader approach anchored in economic stability, rule of Jaw, clean governance and modernising the public service.

The President announced that the economy has made significant progress across every sector beyond expectations.

“For the first time in our history, we are recording a budget deficit that is lower than what was projected in the national Budget. Traditionally, Sri Lanka never met its revenue targets and successive Governments resorted to repeated supplementary allocations throughout the year. We have put an end to that practice. That era is over,” he said.