Opposition's arguments hold no water - S.B. Dissanayake

By Uditha Kumarasinghe

Higher Education Minister S.B. Dissanayake said there won't be any other absurd argument than the Opposition's claim that country is indebted and people's living standards continue to remain unchanged.

Sri Lanka has achieved 7.3 percent economic growth last year which is a remarkable growth rate when compared with other countries in the region. The Opposition should look into the reality of this country. At present poverty has declined to 4.6 percent and inflation remains in the single digit for the past seven to eight years. The unemployment rate is below 5 percent, the Minister told the Sunday Observer yesterday.

According to economic definitions when poverty and unemployment rates are down below 5 percent, that country is defined as a country which is free from poverty and unemployment. When President Mahinda Rajapaksa assumed office in 2005, the country's per capita income was US$ 900. At present this has been reached up to US$ 3800. People can witness the massive development taken place within the country. Today Sri Lanka is emerging as a key country within the region, the Minister said.

Minister Dissanayake said they toppled then President Chandrika Bandaranaike Kumaratunga's government at a very decisive moment. I even resigned from my party General Secretary post and ministerial portfolio.

When we toppled that Government, country's debt ratio had gone up 99 percent of the GDP. During the regime of Ranil Wickremesinghe's Government, this went up to 106 percent which I was also a Minister of that Government.

When President Mahinda Rajapaksa took over the Government in 2005, the debt ratio was at a range of 106 percent. At present the Government has reduced this to 77 percent.