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“SL Economy controlled with strict policies” -Ravi Karunanayake

(UDHAYAM, DAVOS) – Minister of Finance Ravi Karunanayake says the perilous economy inherited by the present government in January 2015 was brought under control with strict economic policies.

The Finance Minister said the government has looked into two areas for economic development including the lever for Foreign Direct Investments to come into Sri Lanka and the usage of existing manufacturers to improve and increase the existing investments in the country.

Accordingly, the Minister said the government has followed a two-pronged attack. Minister Karunanayake said product and market diversification will help increase exports which dramatically reduced within the last 10 years.

The Finance Minister said Sri Lanka is now on the right course with the establishment of fiscal consolidation, ensuring financial discipline and ensuring capital investment increases for the revenues of tomorrow.

Minister Ravi Karunanayake said 2017 is an important year, however, he said it is a rolling year for the next three years as well.

Minister of Finance Ravi Karunanayake said it is the intention of the government to ensure Sri Lanka obtains capital in order to ensure sustainable growth in the next couple of years.

The 2017 World Economic Forum commenced in Davos, Switzerland yesterday.

A seven member delegation led by Prime Minister Ranil Wickremesinghe left the island on Monday to participate in the forum.

The delegation includes Minister of Finance Ravi Karunanayake, Minister of Development Strategies and International Trade Malik Samarawickrama and Minister of Telecommunication and Digital Infrastructure Harin Fernando.

The forum is scheduled to conclude on Saturday, the 21st of January.

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