Written by Staff Writer
07 Jan, 2016 | 8:27 pm
The Sri Lanka Economic Forum 2016 began in Colombo on Thursday (Jan. 7th) with the aim of formulating a policy for long term economic growth. The forum themed “Steering Sri Lanka towards sustainable and inclusive development” began under the patronage of President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe.
The two day forum which was graced by business magnate George Soros and Nobel Laureate Economist, Prof Joseph Stieglitz is set to discuss key findings of a preliminary study on Sri Lanka carried out by the Harvard University’s Center for International Development.
Ricardo Hausmann, Director of Harvard’s center for international development noted that low government revenue as well as declining exports and external debt, were some of the key challenges facing Sri Lanka’s economy.
Addressing a packed audience PM Wickremesinghe spoke of his ambition of making Sri Lanka the most competitive in the Indian Ocean region. Identifying the immediate issues face by the country, the Prime Minister noted that it is of utmost importance that Sri Lanka navigates through the vulnerabilities of the global economy as well imbalances in our own fiscal system.
He also pointed out a few concerns including the stability of the Chinese economy over the course of the year and the situation in the middle east. He further said that the government has now embarked on delivering wide-scale economic reforms needed to fast track the economy.
Member of European Parliament Niranjan Deva Aditya addressing the gathering noted that Sri Lanka has the potential to reach economic prosperity and rise to the level of Singapore.
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