'Unique policy mix took SL from low income to middle income country'

The unique policy mix improved Sri Lanka's status from low-income to middle-income, illustrating further potential for economic growth and it is ready to help the region sharing its experience not in only achieving MDGs, but also in terms of establishing peace and stability in the region, International Monetary Cooperation Senior Minister and Finance and Planning Deputy Minister Dr. Sarath Amunugama said.

He was speaking at the inaugural session of the High Level Segment of the Substantive Session of ECOSOC in Geneva.

"It is important to note that developmental and technological needs vary from country to country. A systems-oriented approach is more suitable than a "one-size-fits-all" approach. Developing countries must obtain a clear understanding of conducive and sustainable practices that can be replicated domestically to address the challenges they face in the fields of science, technology and innovation," he said.

Minister Amunugama said: "We have to keep in mind that middle income countries, such as Sri Lanka, face specific economic, social and environmental challenges. One such concern is unexpected weather patterns that trigger droughts and floods causing damage to our food and energy production. We are still vulnerable to external economic shocks, but have the potential to advance in economic strength if a forward looking culture supportive of technology induced growth is achieved.

"Science, technology, innovation (STI) and culture play a key role towards the achievement of global development goals. These elements hold a gamut of potential as main drivers in overcoming challenges of this Century such as extreme poverty, inequality and environmental degradation. The realization of Millennium Development Goals by 2015 in less than thousand days poses a great challenge."

"This year's theme is particularly important for Sri Lanka. My country has been focusing on people-oriented socio-economic development since independence. In spite of a long drawn out battle against terrorism for nearly three decades, and being further constrained by the 2004 Asian tsunami and the impact of the global recession, yet we have successfully realized our MDG targets," Dr Amunugama said.

The introduction of the Millennium Development Goals (MDGs) in 2000 boosted our drive for a more people-centered development path, mainly by our own efforts for the past 65 years. Sri Lanka has integrated MDGs effectively in to the national development agenda. In addition to several targeted special programmes, government conducts a large number of development interventions with the aim of increasing opportunities for every segment of society, he said.