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| Sunday,13 November 2005 |
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| News Business Features Editorial
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Ranil's 10% growth rate 'unrealistic' - Economic Advisor Targeting a growth rate of 8% is challenging while a 10% growth is unrealistic said Prime Minister's Economic Advisor Ajith Nivard Cabraal. He said that to achieve a growth rate of 8% the required investment rate is 32% while 40% is required to achieve a 10% growth rate. He was speaking at a discussion on the Mahinda Chinthana at Hotel Hilton which was well attended by the top business personalities. The other members of the discussion panel were Ports and Aviation Minister Mangala Samaraweera, Advanced Technology and National Enterprise Development Minister Rohitha Bogollagama, JVP Leader Somawansa Amarasinghe and Secretary, Ministry of Finance Dr P.B. Jayasundera. The Presidential candidate Mahinda Rajapakse's Mahinda Chinthana targets a growth rate of 8% while the UNP candidate Ranil Wickremesinghe's People's Agenda targets a 10 per cent growth rate. Over the last 25 years the country has never achieved a growth rate of over 6.9% while the anticipated growth rate in 2005 is 5.5% due to the setbacks such as the tsunami and the increase in oil prices. Otherwise we would have achieved a growth rate of over 6.5%, he said. He said the Mahinda Chinthana will actively support local businesses, provide special incentives to SMEs, actively promote FDIs, focus on successful business models and excellent management to improve government owned enterprises without resorting to privatisation, increase capacity to increase exports, provide access to capital, technology and globalised economy, focus on training and management techniques, support agriculture, animal husbandry, plantations,fisheries, ocean based enterprises, initiating mega projects for infrastructure development, support for tourism, apparel, infrastructure, promote foreign employment, increase housing stock and accelerate rural economic activity. (SG) |
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