Positive economic outlook

Economics and politics are hardly separable. In actual fact they are inseparable. In this context one could hardly understand the relative silence of the Opposition economic pundits on the position of the Sri Lankan economy.

Once it was their pleasure to harp on the fluctuations in the stock exchange. Even a temporary dip there would have seen those know-alls pontificating on the weakness of the Sri Lankan economy. Now that the Colombo Stock Exchange (CSE) has earned a reputation as one of the best, if not the best, performing stock exchange in the world these critics have fallen silent.

During the period of the Local Government polls they harped on the prices of vegetables and coconuts. They deliberately suppressed from public information the fact that by nature these prices vary seasonally. Another factor that led to such price escalation was the unprecedented rainfall that resulted in catastrophic floods. Certain areas received a rainfall equivalent to the annual average in a matter of few hours or few days.

These economic 'wizards' never cited basic economic indices that attest to the soundness and stability of the economy. Nor did they acknowledge the fact that Sri Lankan economy has performed better than most South Asian economies and even better than economies of most advanced economies including the United States.

The International Monetary Fund (IMF) which monitors the performance of economies across the world had given a positive appreciation of the Sri Lankan economy. Its Country Director Dr Koshy Mathai is reported to have said that the Sri Lankan economy is stabilized and well poised for growth. He said that during the post-war period the economy has achieved a five to six percent growth. This in his opinion was commendable for a country that experienced the negative impact of a war for nearly three decades.

He was also commending the lowering of the inflation rate to a single digit despite some increase subsequently within the single digit range.

The IMF representative also praised Sri Lanka for lowering its debt to GDP ratio, an index of the soundness of an economy. Sri Lanka's current ratio is 80 percent. A continuation of the low interest regime and the growth momentum could very well see it dropping further to 60 percent by 2014, Dr Mathia predicted.

The country's foreign reserves have also grown. From the slump in 2009 it has now grown to almost six months' worth of imports. It remains over the targeted level.

With the commissioning of the first phase of the Norochcholai coal power plant the power situation, a longstanding impediment to development has increased. Completion of its second phase and the commissioning of the Upper Kotmale power project would see the country self-sufficient in power leading to a lowering of power tariffs.

The present Government is implementing a massive infrastructure development drive the result of which would be multi-dimensional. It would, among others, be a fillip to the growth of the tourism industry which is already on an upsurge.

There is no necessity to repeat the list of economic achievements of the recent years and the projected benefits that would accrue soon to the masses. The relative silence of the Opposition 'experts' itself testifies to the bankruptcy of their policies and poverty of their thought.

The continued success of the UPFA at polls is also another silent reminder to the efficacy of Government policies and the futility of the Opposition to belittle them.

Acrobatics of fools

There are supposed to be over 40,000 quacks 'practising' medicine in the country. In local parlance they could be called Goda Vedas or 'country doctors'.

Where else could one have such a large number of enterprising individuals who would dare to enter an unknown territory? Even qualified doctors proceed with caution when confronted with the sick.

This reminds one of the old adage which says fools rush in where angels fear to tread. It means there are enough fools taking the poor patients for a round.

Does this happen only in the medical sphere? It is the same in education too. How many of the so-called tuition wizards have passed even the GCE Ordinary Level examination? Yes, there are bogus teachers and thousands of them exploiting the yearning for knowledge shown by the young people.

You name it any profession could have quacks intermingling with the real professionals. It is a social menace that should be eradicated.