EU satisfied with country's progress
Sanjeevi JAYASURIYA
Sri Lanka is confident that the country could revive the GSP+
facility, Finance Ministry Secretary Dr. P.B. Jayasundera said.
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Dr. P.B. Jayasundera |
"We had a cordial dialogue with the EU and they are satisfied the way
the country is progressing on its socio economic development activities.
"We believe that we could secure more facilities than the GSP+
facility in the near future," he said.
"Our EU visit is very encouraging and positive.
Sri Lanka has much more stronger prospects of moving forward in 2010
and beyond to meet the new extraordinary opportunities. The economic
outlook is improving, he said.
The delay in the third tranche of the IMF loan is not a concern. The
country has six billion US$ level of foreign reserves. The program would
be continued based on the development action taken by the Government, he
said.
The target of 7.5 percent budget deficit set by the IMF could not be
met. This is not due to the Government's inefficiency, but due to
external factors. This was a result by less revenue growth due to global
downturn, and high interest rates that prevailed. However, the country
is in a position to overcome this situation and would meet the required
target, he said.
This policy would be continued despite the statement by the
Opposition not to repay loans obtained by the Government if they came to
power. |
