Finance Secretary Dr. P.B. Jayasundera has said that Sri Lanka is moving towards a democratic economic path endorsed by the entire world. This concept was presented by the President to the Commonwealth. He said that the Sri Lankan economy has so far achieved an outstanding growth.
The Finance Secretary was addressing the function organized with respect to the release of the Annual Report of the Finance Ministry. Dr. Jayasundera focused on a horde of economic growth statistics and evaluations by financial organizations to paint an “unstoppable Sri Lanka”.
The Finance Secretary turned to many ranking tables where Sri Lanka was in the top half for economic competitiveness, infrastructure, transparency and economic freedom. In terms of IT rankings he pointed out that Sri Lanka was among the top 21 countries of the world. Touching on GDP, per capita income, inflation, exports and reserves he tracked how they had all improved substantially over the last few years.
“Reserves that were about one Billion Dollars have now reached above eight Billion. Next to China Sri Lanka has the highest growth rate. Sri Lanka is overshooting her per capita target of 4,000 Dollars by 2016; it will likely be reached next year. The general consensus is ‘Sri Lanka is a success story,’ but this is a story that is rarely told.
By 2016, Dr. Jayasundera said Sri Lanka’s debt as a percentage of GDP will be reduced to 65% and the Government has already focused on a historically-low deficit for this year. The Government is now looking at East Asian countries such as Japan and South Korea to map the next stage of growth.
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