'SL's economy sound'

Sri Lanka was able to control the impact of internal and external crises successfully due to the efficiency of the political, economic and administrative management of President Mahinda Rajapaksa, said Economic Development Minister Basil Rajapaksa at a discussion held with Head of Rating Advisory at the Royal Bank of Scotland Group Raymond Woo at the Parliament complex recently.

"Sri Lanka has given priority to food security in the country and in the households in order to face the world food crisis. Sri Lanka became a rice exporting country very recently because of the government's agriculture policy, the minister said..

"Increasing energy prices in the world market has caused a major impact on Sri Lanka. It will cause inflationary pressures on the domestic economy. However, the country has been able to adjust to these external shocks. Therefore, we were able to minimize the impact on the domestic economy" the minister said.

"Despite all the adverse publicity given by some parties with vested interests, Sri Lanka has achieved good results in the economic arena. Infrastructure facilities are well developed. There is no electricity shortage or power cuts. The economy is sound and the country has recorded a high growth rate.

Tourist arrivals have rapidly increased resulting in more international airline services opening up in Sri Lanka. Sri Lanka has maintained its external debt and reserves in a sound position," he said.