Sri Lanka to slash military by a third to cut costs

Published: January 13, 2023 13:29:26 | Updated: January 13, 2023 17:38:39

Sri Lankan military officer lowers the national flag at the flag square in Colombo, Sri Lanka on March 23, 2021 — Reuters/Files

Sri Lanka will slash its army by a third to 135,000 by next year and to 100,000 by 2030, the defence minister said on Friday, as the country facing its worst economic crisis in more than seven decades tries to cut costs, reports Reuters.

"Military spending is basically state-borne expenditure which indirectly stimulates and opens avenues for economic growth by way of assuring national and human security," Premitha Bandara Thennakoon said in a statement.