Sri Lanka’s per capita income grows from $ 1,000 - $ 2,200 - Dr. Jayasundera

Gayan KANCHANA

Sri Lanka is no longer a poor country. Its per capita income has increased from S 1,000 to $ 2,200 within a few years even under the worst conditions said Finance Ministry Secretary Dr. P B Jayasundera.

Dr. P.B. Jayasundera

Dr. Jayasundera who was the Chief Guest was addressing the sixth Annual General Meeting of The Spice Council (TSC) at the Galle Face Hotel on Tuesday.

“We strongly believe that we could double the current per capita income from $ 2,200 to about $ 4,400 in less than five years in this favourable situation. Our final goal is to develop the country as a high income country as soon as possible,” he said.

The Government has removed the biggest constraint for private sector development by ending the war and engaging in massive infrastructure development projects, Dr. Jayasundera said.

During President Mahinda Rajapaksa’s four-year period of administration, the country has been freed from fear and uncertainty from terrorism. Even though there was a war the Government did not compromise development projects.

The Government simultaneously embarked on massive infrastructure development activities in power generation, ports, irrigation, airports, highway network, bridges and public transport. In addition the Government implemented many community development projects for the rural sector, he said.

“The Government ensures that agricultural production continues to remain high.

With the liberation of the East, the contribution from this province to the national economy is on the increase. There is an increased supply in agricultural production,” he said.

The global economy is now recovering and this is a plus point because Sri Lanka is an open economy that depends heavily on exports, remittances, tourism and capital flows. Sri Lanka exported goods worth almost USD 8 billion in 2008.