Economy forging ahead due to govt's correct decisions - Secy
"The country's economy is forging ahead as a result of correct
measures taken by the government," Finance and Planning Ministry
secretary Dr P B Jayasundara said.
Dr Jayasundara was speaking at a ceremony to mark the golden jubilee
of People's Bank at Temple Trees yesterday. "The government has taken
many measures to develop the economy. For the first time in the
country's history, Sri Lanka is now experiencing an eight percent
economic growth. The unemployment rate has come down to five percent
from eight by 2010. The government debt rate was 102.1 percent in 2005.
The rate had decreased to 80 percent by 2010 showing a drastic drop," he
The government has invested millions on various mega-scale
investments such as the Puttalam coal power plant, Upper Kotmale hydro
power plant, Kerawalapitiya power plant, Colombo harbour development
project, Hambantota harbour development project, Mattala International
Airport, Southern Highway, Colombo Outer Circular Road and other
development activities, Jayasundara said.
"While investing on such mega-projects, the government is improving
and strengthening the country's economic backbone. As a result of the
strong economic background, the government's investments are
increasing," he said.
The Secretary said the country's inflation is gradually decreasing.
"Due to the peaceful atmosphere in the country, the defence expenditure
has come down drastically."