Sri Lanka maintains 7 percent GDP growth

GAYAN KANCHANA

While increasing capital expenditure and government income Sri Lanka has been able to maintain a GDP growth rate of 7 percent despite the global economic recession and the three-decade conflict.

After nearly 70 years, the world economy is braking sharply, with the United States, Western Europe and Japan still in recession and their economic growth rates are negative. Therefore, we can be happy about Sri Lanka’s progress, said founder, Chairman and Director, Indian Institute of Finance and Editor-Chief, Finance of India Prof. J.D. Agarwal.

He was speaking at the inauguration of the CIMA Business Leaders’ summit 2009’ organized by the Chartered Institute of Management Accountants (CIMA) on “The Challenge - Now and Ahead” at the Cinnamon Grand on Monday.

Agarwal said, “In this favourable situation there should be special focus on the North and the East development, governance, employment, agriculture, fisheries, dairy and tourism, knowledge economy and banking and finance in the country,” he said.

The Chief Guest on the occasion, EU Ambassador in Sri Lanka and the Maldives Bernard Savage said, “The relationship between the EU and Sri Lanka is over two decades and the EU has supported the country in different ways.

During the post tsunami reconstruction the EU granted Euros 200 million and we too have supported post war reconstruction as well,” he said.