Sri Lanka, March 19 -- Sri Lanka may be sitting on an economic volcano as the Middle East conflict would bring down its foreign remittance, tourism and devaluation of the rupee, a prominent figure in the previous government said yesterday.

Former Minister and UNP Deputy General Secretary Harin Fernando told a media briefing that rising inflation and depreciating Sri Lankan rupee would likely compel Central Bank to revise interest rates.

"We have predicted an economic disaster by April this year. This prediction was made in December last year. It looks like our prediction is coming true today. Around 45 percent of Sri Lanka's foreign remittance comes from the Middle East. Around 11 percent comes from Dubai, 11 percent from Kuwait, 9 perc...