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Sri Lanka 04-year development plan out next month: PM

ECONOMYNEXT – The Sri Lankan government will present its four-year development in a month, Prime Minister Ranil Wickremesinghe said.

“The government has spent the last one year stabilising the economy,” he told the national summit on foresight and innovation held by the United Nations Development Programme and the Ministry of National Policies and Economic Affairs.

“This will ensure that, despite the global downturn, we will not face a serious financial crisis.”

The government’s last two budgets had been prepared in the belief that the global economy will improve, but the reality turned out to be different, he told the summit that will prepare  new tools to encourage innovation in bureaucracies and national planning.

“In a month, the government will put out its four-year development strategy,” Wickremesinghe said. “We are working on it.”

The recent deal with the International Monetary Fund and a swap arrangement with India, along with planned sovereign international bond issues to raise funds, should help stabilise the economic situation, he said.

“At least we can breathe now,” Wickremesinghe said.
(COLOMBO, May 24 2016)

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