In The Press
SL contemplates standby agreement with IMF-PM
Sri Lanka has made a request from the International Monetary Fund (IMF) to help in rewriting the tax code and informed them the need for a standby agreement, Prime Minister Ranil Wickremesinghe said.
The unpredictable global economic and political scenarios will determine the fate of the global economy including Sri Lanka in the coming year, he said, addressing an event held yesterday to mark the 30th anniversary of the Colombo Stock Exchange (CSE).
Sri Lanka"s economy is likely to reach a 6.5% growth next year and all efforts have to be mobilized towards reducing the budget deficit to 3.5% of the gross national production in the medium term by 2020, and reach the goal of becoming a high per-capita income country by 2030, he noted.
"We have to maintain our momentum and ensure whatever happens there is a 6.5% growth rate for next year."
"There may be some unforeseen circumstances which case not only our economies but most of the emerging market economies will have to take a downward plunder. But that"s not going to be on macroeconomic policies, it is going to be something outside that. But then from 6.5% what may be the problems we face we have to go to a higher growth rate."
"We have to achieve a 8% growth and aim at getting 9%. Now this is a difficult task but not impossible."
"We have to have structural reforms to facilitate investment and growth. We want to ensure an expanding and strong middle class in this country," the premier said. Speaking on the Colombo Port City Development Project, Wickremesinghe said that Sri Lanka will have a unique financial and business district in Colombo when the stalled Chinese funded Colombo port city project is resumed.
"Hopefully if the Port City projects gets underway; there will be some sort of landfill there ; that could have the makings of a special financial and business district which will be a unique one in South Asia," Wickremesinghe added.
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- Taking a break
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- Fast-changing Colombo landscape
- Science is the best outpost for attack or defense Port City Project
- MPs on inspection tour of Port City site and dredger
- Extra land for public use
- Parliament approves several orders under Strategic Development Projects Act:To grant tax exemptions to Port City Project
- New Laws for Port City – Malik Samarawickrama
- Economists, Experts Air Their Views : Port City Project
- Colombo Financial City Project: NO IMPACT ON FISHERIES INDUSTRY: NARA
- Marine life not affected by Port City Project
- Colombo Int’l Financial City work in progress
- Tax exemptions for CHEC Port City project
- Prime Minister endorses Port City
- Mark Mobius shares his mantra for Sri Lanka
- SL contemplates standby agreement with IMF-PM
- Western Region Megapolis Plan to be unveiled in Jan 2016
- Sri Lanka's Prime Minister shows green light for port city after long haul back
- Port City To Be Expanded
- Port city project will resume under new agreement
- China, India and Hong Kong top investors in Sri Lankan real estate- Lamudi