The truth about the economy

Sri Lanka has learned to live with its conflict. Come what may, the economy is registering steady growth. This assessment of the economy has just won an endorsement from Bloomberg, a Singaporean news agency.

Sri Lanka has registered its highest economic growth rate in 30 years, 7.4 percent, despite the conflict, on account of our growth centres being far removed from the theatre of violence, the news agency explained.

This amounts to putting the record straight on a cluster of issues which has a close bearing on Sri Lanka’s well being. Besides, it is a refreshing change from the pessimistic economic scenarios projected by some sections of the media, which seem to be obsessively bent on presenting a jaundiced and distorted view of the country’s internal condition, whatever the factual situation.

The truth, however, emerges triumphant and this is just what is happening even in the case of our economy.

Although those who have a vested interest in presenting a distorted and misleading image of the country may continue to dish out their disinformation, nothing can prevent the truth from emerging from open, unbiased minds.

There is no doubt that there is a conflict situation in the country but what is equally true is that Sri Lankans are coping flexibly and resourcefully with this state of things and are forging ahead on the economic front.

This situation is largely facilitated by the fact that the conflict is localised and does not penetrate the economically most vibrant regions.

These ground realities are known by all economic actors, including foreign business interests, who keep the wheels of the economy humming, the conflict notwithstanding. The best proof of this is the US $ 600 million foreign investment we attracted last year. Therefore, separating the truth from falsehoods as regards Sri Lanka, emerges as a prime task.

This is a job for State institutions such as the Foreign Ministry, the BOI and the Ministry of Tourism. Hopefully, they would be equal to the task.

All this does not mean that the State could remain complacent about Sri Lanka’s condition. The conflict has to be ended politically, and all relevant measures towards this end should be speeded-up. The State could not also remain complacent about the fact that our main growth centres are outside the North-East.

As we have often said, lopsided development is no development at all.

Development to make any sense should translate into even growth throughout the country. Therefore, ideally, all regions of the country should be growth centres.

That said, there is no doubt that Sri Lankans are a most resilient people who could carry on undeterred by most crises.It should be the endeavour everyone who believes in Sri Lanka, to further enthuse the country into forging ahead with the economic growth process.

We believe that a process of sharpening the entrepreneurial skills of the people should run parallel to countering the misleading impressions which have been churned out about Sri Lanka. Using business opportunities should be a Sri Lankan knack and all systems should go to facilitate this process.