Lanka records highest ever growth rate:
We are winning economic war - Basil
Economic Development Minister Basil Rajapaksa commenting on Sri Lanka
recording a growth of 8.5 percent during the second quarter of 2010,
said this signifies that the country’s economy is growing at a very
rapid pace. This is the highest ever quarterly growth recorded since the
Central Bank and Department of Census and Statistics began estimating
quarterly growth rates.
Minister Rajapaksa |
“This achievement is due to the efforts and policies taken by
President Mahinda Rajapaksa’s Government. We are now winning the
economic war,” Minister Rajapaksa said. The three major sectors of the
economy – agriculture, industry and services recorded increased growth
rates during the second quarter of 2010, which resulted in the record
growth rate of 8.5 percent GDP.
“With the North and East producing at full capacity and these regions
being integrated into the economic main stream has been a great
achievement. With tourism booming and tourist arrivals reaching record
numbers, this year has resulted in increased economic growth in the
Agriculture sector all paddy lands are being cultivated including the
North and East.
Therefore this year will signify further economic growth,” Minister
Rajapaksa said. With the end of the war the economic environment in Sri
Lanka is stable and in 2010 bank-lending rates decreased further which
in turn encouraged greater investor confidence and investment. The
Government fulfilling its promises has ventured into massive
infrastructure projects including roads, power generation, ports and
airports thus taking the country towards achieving the vision of
becoming the Wonder of Asia, the Minister said.
Considering the global economic environment where economies of scale
in the developed countries are yet to recover from the global recession.
Sri Lanka’s achievement in recording 8.5 percent growth during the
second quarter of 2010 is showing the world that Sri Lanka is
progressing forward, he said.
“Our per capita income has reached over US$2,000 taking Sri Lanka to
a middle-income economy.
President Rajapaksa’s aim is that we should reach US$ 4,000 per
capital income range for that the economy must grow over eight percent
with our achievement in the second quarter of 2010, reaching USD 4,000
per capita is not far away,” Minister Rajapaksa said. |