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Sri Lanka's investment flows recorded a 102 percent growth during the period of 1994 to 2000, a Finance Ministry official told the 'Daily News'.

The country's investments had increased to Rs. 311 billions in 2000 when compared with the investments in 1994 which is amounting to Rs. 154 billions by foreign and local investors capitalising the vast incentives offered to them, he added.

"He described the reason for such increase due to the investor confidence improved during the period due to the prudent economic management of the Government".

This year too Sri Lankan economy has to face America's economic downturn. The United States is the main buyer of the Sri Lanka's main foreign exchange source garments, he noted.

However, the country had to experience internal and external shocks since 1994 which was out of hand of the Government to control such moves such as economic crisis in Russia which affected our tea exports, South East Asian Economic financial crisis, power crisis in 1996 and latter part of this year too, World Economic recession, etc.

Sri Lanka was able to face this crisis situation as the Government strengthened the Macro Economic fundamentals, the officer added.

Somehow, Sri Lanka was able to maintain a moderate growth rate during the period of 1994 to 2000 when some countries in the region was experiencing negative growth rates, he noted.

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