Economic growth might drop to 1.6% says CB Governor : Keheliya Rambukwella

COLOMBO (News 1st) - Speaking at a media briefing Keheliya Rambukwella, State Minister for Investment Promotion expressed that Sri Lanka might not need foreign assistance now. State Minister Keheliya Rambukwella noted that however, they would need assistance in the long term. He added that they would look forward to foreign direct investments over any form of assistance right now. The State Minister shared that they have taken enough loans and it is high time to refrain from any loans. According to him, they have taken loans of Rs 5 trillion during their tenure. He added that Norochcholai which cost around Rs 1bn has been acknowledged by the Auditor General as the most profitable venture they have embarked on. He went on to note that in addition the Southern Expressway, is almost making more than anticipated profits making it easier to attract foreign investors. He mentioned that during their tenure Sri Lanka had the highest growth rate of 7% in South East Asia and unfortunately today Sri Lanka is in the last place. He added that the Central Bank governor claims that growth might drop to 1.6%, the lowest ever he could remember.