Major things which made Srilanka as country Of Crisis

The 4 major things which made Sri Lanka as country Of Crisis

1) Organic Farming

2) Tourism 

3) Tax Cut Scheme 

4) Foriegn Exchange Reserves

These 4 would be concluded by One country, follows

1. Organic Farming : 

Rajapaksha declared that entire country would immediately switch to Organic Farming and banned Bio Farming. 

Farmers are forced to go through Organic Farming.

General production

Bio farming - 30 bags/acre

Organic farming - 5 bags/acre

This is the Major loss of srilanka

2. Tourism 

Tourism plays one of the main role in Sri Lanka's economic growth.

There's a high demand in Sri Lanka's tourism and even Ram-Ravan war also happened there,An incident occurred in 2019 called Easter Bomb incident which is considered as Black day of Srilanka

And It's called Islamist terrorist suicide bombings. Nearly 269 deaths, 500+ injured.

30+ foreigners died. By this no tourist have dare to visit Sri Lanka again in part of tourism, and completely lost trust on Sri Lanka's security In this way, Sri Lanka lost one of major economy.

3.Tax Cut Scheme :

Generally, There must be minimum tax percent to lead economic growth

But Before elections Rajapaksha promised that he'll reduce the VAT (Value Added Tax) from 15% to 8% and will cut NBT (National Building Tax) completely.He won and reduced these taxes too 

Due to these Tax cut, totally the economy of Sri Lanka is in losses and people completely against on Government , and you already know the minimum prices of daily needs in Sri lanka, only 4 hours electricity, atleast 2 kms line for petrol.

Foreign Exchange Reserves :

Sri Lanka lost 70% of its stocks, bonds (FER) because of repayment for IMF (International Monetary Fund) and the reason behind that is

Generally, Main world banks offer loans with bond where you're capable of returning within 20-50 yrs duration.

But coming to china, there's no bond guarantee with 10-15 yrs duration and high interest

where Sri Lanka taking loans continuously from china (actually I'm little weak in maths, so I donno the exact figure they took ) and doesn't have anything to pay on time.

Under the agreement, China Merchant ports bought an 85% stake in Hambantota International Port as a part of Chinese company's US$ 1.12 billion investment into the port So, The Hambantota International Port owned by China just like princely states in India

Same pattern followed by china for not only Sri Lanka but also neighbor countries of India like Pakistan, Bangladesh to target India, Luckily India has no strong bonds and agreements with these countries

 

Comming to Conclusion Below

The most important and Major reason behind these 4 things is COVID 19 which was born in China..

Due to this, Deadly crisis occured to Sri Lanka.

In my guess..Those scientists created this virus to hit our economy in same pattern. Just my assumption only