Sri Lanka PM hopeful of strong economy after three difficult years

Sri Lankan Prime Minister Ranil Wickremsinghe has said after three difficult years, the government is initiating an accelerated development and methodically taking forward the economy.

Addressing a function at his office in Colombo last evening, Mr. Wickremsinghe said that the government has been able to stabilize the economy and the people, who had to undergo many hardships during these three years will benefit from a strong economy.

He asserted that there was a mountain of debt when the government came into power and it had to take some difficult decisions.

The Prime Minister said that they need to create jobs and increase income because the economy cannot be taken forward if the revenues and foreign exchange are not sufficient to relieve the country from the debt burden.

His statement came as country’s debt repayment has been growing and was forced to take an IMF bailout in 2015.

The Sri Lankan rupee is under pressure following growing trade deficit and has reached its lowest level.

To counter growing unpopularity, the government has recently introduced programmes like Gamperaliya and Enterprise Sri Lanka to spur entrepreneurship and boost rural economy.

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