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| Sunday, 10 November 2002 |
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| News Business Features Editorial
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Newsmaker of the Week : Finance Minister K.N. Choksy The second budget of the UNF Government, while giving priority to savings and development, focuses on youth, women and the rural population. "Spectacular and overnight recovery of the economy cannot be expected in the backdrop of the past. But a definite start has been made, which will give positive results in 2003-2004. Our effort is to reform the economy in parallel with the peace process. "The Government has been able to increase growth from last year's negative figure to an estimated positive three percent of GDP for this year. This we have achieved on the economic front by implementing the cautious strategies and policies contained in the last budget. "The combination of a recovering economy and steady decline in public sector borrowings from domestic banks will reduce inflation and in doing so, make commodities available at lower prices and provide the impetus to development. "The budget also focused on the acceleration of economic growth and employment generation, using the gains made in bringing peace while laying emphasis on financial reforms and fiscal discipline." |
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