{"id":9426,"date":"2024-10-04T14:50:28","date_gmt":"2024-10-04T09:20:28","guid":{"rendered":"https:\/\/factcheck.lk\/factcheck\/cannot-save-wickramaratnes-claim-on-low-sl-savings\/"},"modified":"2025-01-28T14:03:38","modified_gmt":"2025-01-28T08:33:38","slug":"cannot-save-wickramaratnes-claim-on-low-sl-savings","status":"publish","type":"factcheck","link":"https:\/\/factcheck.lk\/ta\/factcheck\/cannot-save-wickramaratnes-claim-on-low-sl-savings\/","title":{"rendered":"\u0b87\u0bb2\u0b99\u0bcd\u0b95\u0bc8\u0baf\u0bbf\u0ba9\u0bcd \u0b95\u0bc1\u0bb1\u0bc8\u0bb5\u0bbe\u0ba9 \u0b9a\u0bc7\u0bae\u0bbf\u0baa\u0bcd\u0baa\u0bc1 \u0ba4\u0bca\u0b9f\u0bb0\u0bcd\u0baa\u0bbf\u0bb2\u0bcd \u0bb5\u0bbf\u0b95\u0bcd\u0b95\u0bbf\u0bb0\u0bae\u0bb0\u0ba4\u0bcd\u0ba9\u0bb5\u0bbf\u0ba9\u0bcd \u0b95\u0bb0\u0bc1\u0ba4\u0bcd\u0ba4\u0bc1 \u0ba4\u0bb5\u0bb1\u0bbe\u0b95 \u0b89\u0bb3\u0bcd\u0bb3\u0ba4\u0bc1"},"featured_media":9374,"comment_status":"open","ping_status":"closed","template":"","tags":[1032,2907,2908],"rating":[86],"speaker":[1435],"related_category":[1623],"class_list":["post-9426","factcheck","type-factcheck","status-publish","has-post-thumbnail","hentry","tag-china-ta","tag-india-ta","tag-savings-ta","rating-false-ta","speaker-1435","related_category-economy-ta"],"acf":{"by_who":"\u0b87\u0bb0\u0bbe\u0ba9\u0bcd \u0bb5\u0bbf\u0b95\u0bcd\u0b95\u0bbf\u0bb0\u0bae\u0bb0\u0ba4\u0bcd\u0ba9","institution":".","statement":"\u0b87\u0bb2\u0b99\u0bcd\u0b95\u0bc8\u0baf\u0bbf\u0bb2\u0bcd \u0b9a\u0bc7\u0bae\u0bbf\u0baa\u0bcd\u0baa\u0bc1\u0b95\u0bb3\u0bcd \u0b95\u0bc1\u0bb1\u0bc8\u0bb5\u0bbe\u0b95 \u0b89\u0bb3\u0bcd\u0bb3\u0ba9. \u0baa\u0bca\u0ba4\u0bc1\u0bb5\u0bbe\u0b95 \u0b87\u0bb2\u0b99\u0bcd\u0b95\u0bc8\u0baf\u0bbf\u0bb2\u0bcd \u0b9a\u0bc7\u0bae\u0bbf\u0baa\u0bcd\u0baa\u0bc1\u0b95\u0bb3\u0bcd \u0b85\u0ba4\u0bbf\u0b95\u0baa\u0b9f\u0bcd\u0b9a\u0bae\u0bbe\u0b95 15% \u0b85\u0bb2\u0bcd\u0bb2\u0ba4\u0bc1 20% \u0b86\u0b95\u0bc1\u0bae\u0bcd. \u0b87\u0ba8\u0bcd\u0ba4\u0bbf\u0baf\u0bbe\u0bb5\u0bbf\u0bb2\u0bcd \u0b87\u0ba4\u0bc1 30% - 35 \u0b9a\u0ba4\u0bb5\u0bc0\u0ba4\u0bae\u0bbe\u0b95 \u0b89\u0bb3\u0bcd\u0bb3\u0ba4\u0bc1. \u0b9a\u0bc0\u0ba9\u0bbe\u0bb5\u0bbf\u0bb2\u0bcd 50 \u0b9a\u0ba4\u0bb5\u0bc0\u0ba4\u0ba4\u0bcd\u0ba4\u0bbf\u0bb1\u0bcd\u0b95\u0bc1\u0bae\u0bcd \u0b85\u0ba4\u0bbf\u0b95\u0bae\u0bbe\u0b95 \u0b89\u0bb3\u0bcd\u0bb3\u0ba4\u0bc1. \u0b8e\u0b99\u0bcd\u0b95\u0bb3\u0bbf\u0b9f\u0bae\u0bcd \u0b85\u0ba4\u0bc1 \u0b87\u0bb2\u0bcd\u0bb2\u0bc8.","statement_date":"20240607","claim_status":"true","stated_media":"Parliament","fact_check":"Former MP Eran Wickramaratne argues that Sri Lanka has a low level of savings, claiming it is about half or less than the savings levels in India and China.\r\n\r\nTo check these claims, FactCheck.lk consulted the Ministry of Finance (MoF) Final Budget Position Report 2023 and the World Bank (WB) databank.\r\n\r\nAccording to the MoF 2023 data, Sri Lanka\u2019s domestic savings were 23.8% of GDP, a decrease from 2022 (25%) and 2021 (29.4%). The WB reports the same figures for this period. This savings rate is higher than the 15%-20% range quoted by the former MP, and also exceeds the global and South Asian average of 20%-22%.\r\n\r\nRegarding Sri Lanka\u2019s savings compared to India and China, the WB reports that India\u2019s domestic savings in 2023 were 29.2% of GDP, an increase from the previous two years. Similarly, China\u2019s domestic savings in 2022 were 46.6% of GDP, also rising from the previous year (see Exhibit 1). The former MP\u2019s figures overstate the savings rate for both countries. In comparison to Sri Lanka, the savings rate in India and China is about 1.2 and 2 times higher, respectively, but not 2 to 3 times higher as implied by the claim.\r\n\r\nNone of the actual statistics fall within the specific ranges cited by the former MP, and the relative claim about Sri Lanka\u2019s low savings, as well as the comparative claim against India and China, are not supported by the data.\r\n\r\nTherefore, we classify the former MP\u2019s statement as FALSE.\r\n\r\n*FactCheck.lk\u2019s verdict is based on the most recent information that is publicly accessible. As with every fact check, if new information becomes available, FactCheck.lk will revisit the assessment.\r\n\r\n<strong>Exhibit 1: Sri Lanka, India &amp; China Domestic Savings 2021-2023<\/strong>\r\n\r\n&nbsp;","additional_information":"","sources":"Ministry of Finance, Final Budget Position Report 2023. Accessed via\u00a0<a href=\"https:\/\/www.treasury.gov.lk\/api\/file\/ad12f7fa-d2db-43d4-9daa-9270ee7b7cac\">https:\/\/www.treasury.gov.lk\/api\/file\/ad12f7fa-d2db-43d4-9daa-9270ee7b7cac<\/a>.\r\n\r\nWorld Bank Data. Accessed via\u00a0<a href=\"https:\/\/data.worldbank.org\/indicator\/NY.GDS.TOTL.ZS\">https:\/\/data.worldbank.org\/indicator\/NY.GDS.TOTL.ZS<\/a>"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>\u0b87\u0bb2\u0b99\u0bcd\u0b95\u0bc8\u0baf\u0bbf\u0ba9\u0bcd \u0b95\u0bc1\u0bb1\u0bc8\u0bb5\u0bbe\u0ba9 \u0b9a\u0bc7\u0bae\u0bbf\u0baa\u0bcd\u0baa\u0bc1 \u0ba4\u0bca\u0b9f\u0bb0\u0bcd\u0baa\u0bbf\u0bb2\u0bcd \u0bb5\u0bbf\u0b95\u0bcd\u0b95\u0bbf\u0bb0\u0bae\u0bb0\u0ba4\u0bcd\u0ba9\u0bb5\u0bbf\u0ba9\u0bcd \u0b95\u0bb0\u0bc1\u0ba4\u0bcd\u0ba4\u0bc1 \u0ba4\u0bb5\u0bb1\u0bbe\u0b95 \u0b89\u0bb3\u0bcd\u0bb3\u0ba4\u0bc1 - FactCheck<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"ta_IN\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u0b87\u0bb2\u0b99\u0bcd\u0b95\u0bc8\u0baf\u0bbf\u0ba9\u0bcd \u0b95\u0bc1\u0bb1\u0bc8\u0bb5\u0bbe\u0ba9 \u0b9a\u0bc7\u0bae\u0bbf\u0baa\u0bcd\u0baa\u0bc1 \u0ba4\u0bca\u0b9f\u0bb0\u0bcd\u0baa\u0bbf\u0bb2\u0bcd \u0bb5\u0bbf\u0b95\u0bcd\u0b95\u0bbf\u0bb0\u0bae\u0bb0\u0ba4\u0bcd\u0ba9\u0bb5\u0bbf\u0ba9\u0bcd \u0b95\u0bb0\u0bc1\u0ba4\u0bcd\u0ba4\u0bc1 \u0ba4\u0bb5\u0bb1\u0bbe\u0b95 \u0b89\u0bb3\u0bcd\u0bb3\u0ba4\u0bc1 - 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