Country realizing peace dividend - Dr Amunugama

The rebuilding of the war torn Northern and Eastern Provinces and their integration with the rest of the country has significantly increased the county's growth potential, Deputy Finance and Planning Minister Dr Sarath Amunugama said.

Addressing the International Monetary Fund IMF, World Bank Group Annual Meetings 2010 in Washington Dr Amunugama said Sri Lanka's economy is well on the way to realizing the peace dividend.

"We are experiencing a steady and sustained growth during the last quarter of over eight percent, moderate inflation and low interest rates," he said.

"During the last five years we saw our per capita income doubled. It is our ambition to take this further to double yet again the present per capita income by 2016."

"Recent developments reinforce the growing confidence in Sri Lankan economy and its positive macroeconomic outlook. All international rating agencies have upgraded our sovereign ratings," Dr Amunugama said.

In terms of Global Competitiveness Indicators published by the World Economic Forum, Sri Lanka has gained 17 places to rank at 62 during the year, which is the second highest improvement by any country during 2009/2010.

The Colombo Stock Exchange became the best performing market in the world based on performance so far in 2010.

Sri Lanka is a leader in realizing the millennium development goals, well in advance of the targets set by the United Nations.

"The Government aims at positioning Sri Lanka as a maritime, aviation, energy, knowledge and commercial hub in the region. Developing sound infrastructure at the national, provincial and rural levels is vital for realizing our visions," he said.

"We are focusing on putting in place public infrastructure and strengthening the enabling policy environment for the private sector to enhance its role," the Minister said.