Govt. elevated SL to investment hub: PM

The ‘Yahapalana Government’ has been able to transform Sri Lanka from a debt-ridden, backward pariah state in the third world in 2015 to a respected, investment hub in South Asia by 2018 with a fast
growing economy, Prime Minister Ranil Wickremesinghe said yesterday.

Mr. Wickremesinghe added that no one had any hope for Sri Lanka which was in a huge debt trap and no funds in the Treasury even for day to day expenses.

Participating as the ‘Guest of Honour’ at the launching of the ‘Entrepreneurs Paradise Loan Scheme – Enterprise Sri Lanka’ under the ‘Gamperaliya’ Rural Development Project at the BMICH yesterday, Mr. Wickremesinghe expressed his satisfaction on the achievements of the ‘Yahapalana Government’ on its sound economic management in the last three years.

“You all are aware that Sri Lanka was entangled in a debt trap when we took over the government on January 9, 2015. No one knew how we could escape it. But today, we have not only relaxed the debt burden to an affordable level and increased the exports and Foreign Direct Investment sharply as a result of our sound management of our economic fundamentals. As a result we have hopes for the future and the government has no problem in obtaining loans from foreign countries and global financial agencies,” Mr. Wickremesinghe stressed.

He said there was an unprecedented increase in exports and FDI in 2017. The government had launched the novel development project known as ‘Gamperlaiya’ to enhance family income among the rural sector in particular and accelerate the progress in the industrial sector making the national economy sustainable, steady and strong. (Sandun A Jayasekera)