Economic growth steady in Sri Lanka - Dr. P.B. Jayasundera

By Dhaneshi Yatawara

What Sri Lanka needs now is an indigenous economy that can withstand the global catastrophes and climate change calamities and the Government is heading towards that, said Secretary to the Ministry of Finance Dr. P.B. Jayasundera.

Explaining the structure of the developing economy from 2005 until now and targets of 2020 and 2035 according to the 'Mahinda Chinthana' Vision for the Future, Jayasundera said that the present Government introduced an overall economic stability, modern infrastructure facilities, human resource development and village centred development.

"It is under the leadership of President Mahinda Rajapaksa the benefits of economic development spread across the country from one village to another, to individuals without getting stagnated to cities," Jayasundera said. "A true development strategy is which uses the contribution of all stakeholders and ensure that development benefits reach equally to all areas of the country. Thus, new income earning venues, job opportunities and social security networks will be established.

GDP growth

"The increase in the GDP growth alone cannot take the country towards economic prosperity," he said. To be the wonder of Asia, an overall achievement is the target of the current development strategy operating under the 'Mahinda Chinthana Vision for the Future". "It is President Mahinda Rajapaksa who introduced this community participation economic development strategy," Jayasundera said.

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There are several strategies that the current economic development strategy has adopted - i.e. establishing regional cooperation, opening up new economic venues, finding new economic vibes, minimise effects and damages of climate change on Sri Lankan industries, food security, green cities, knowledge based community, skilful labour force, priority for children, women and senior citizens and a village centred development.

Sri Lanka has been a country of villages throughout history and the fact remains the same even now. The rural community will be the manufacturer of many goods in a continuous supply chain to the urban consumer. Government initiated projects such as the Divi Neguma, Gama Neguma, coordinated through the Economic Development Ministry, aims at catering to this crucial manufacturing rural community by uplifting them economically and socially.

With the protracted war against terrorism coming to an end in May 2009 Sri Lanka is now one of the most peaceful countries in the world.

A significant increase in demand came up within the private business sector and along with the Government contribution through broadening their services and developing infrastructure facilities, the economic growth rate of almost all sectors was managed around seven percent.

Despite the different rural development approaches which had taken place over the past 60 years of post-independent era, no significant progress has been achieved to bring about a change in the lifestyle of rural masses to acceptable levels. Thus the village became the centre on regional development. The economic and social services that were concentrated mostly in the Western Province started to drift to the other regions providing a supportive base for businesses to develop. This reduced the development wise regional disparities to a greater extend ending the 'Kolambata kiri - Apita kekiri' (Colombo flourish with milk - for others only cucumber) concept.

To provide proper accessibility to the rural areas of the country the Government initiated road development programs reducing the distance of these villages and the closest main road or highway by at least seven kilometres.

The recently built highways connect several industries, main cities giving a boost to the rising economy. The 219 kilometres long Southern highway, 29 kilometres long outer circular road, 26 kilometres long Colombo - Katunayake highway and the peripheral roads have created links between Mattala International Airport and Katunayake International Airport as well as strategic cities such as Hambantota, Matara, Galle, Kalutara, Galle, Kadawatha, Kaduwela, Kottawa and Colombo.

In addition, these links have reached 60 more secondary townships, 22 exchange centres, two export processing zones, four main Industrial zones, and seven medium and small scale industrial villages, which are situated in and around these highways and cities.

Climate changes

Withstanding climate changes has become a crucial factor in stabilising an economy of a country.

Taking up climate change adaptations to every possible sector having an effect on the economic growth of the country is essential.

According to statistics annually 200,000 families get displaced on an average. As per the climate change adaptability program of the government the irrigation canals and systems, school and public buildings, bridges and anicuts, hospitals are built to withstand as much as possible against natural disasters due to climate change.

With a vision towards a prosperous new Sri Lanka, amidst many debates, fiascos we are moving forward providing opportunities to all from social and economic empowerment focusing on balanced sustainable development in the village, region and country to ethnic harmony and peace.

While retaining its strengths and impressive features the village can be developed as a micro centre of growth with the vision that village has to be a decent and comfortable place for people to live, work and engage in their cultural and communal activities. At times the process may become slow, at times it is swift - yet we are steady.

Uplift regions

President Mahinda Rajapaksa, in a message with regard to development achievements once said: "I strongly believe that minimising the deficiencies in the regional development and converting all sections of the people as stakeholders is the vision of a leader." It is noteworthy to mention the efforts the Government took so far to uplift the rural economy even during the most tedious times of the country.

Achieving a balanced regional development is the key to success in countries such as Sri Lanka. Since we are a nation of villages thriving with micro-economics, it plays a greater role in developing the entire nation. It is time to rebuild the nation. At a time where threatened villages were totally obliterated from the Sri Lankan map it is now the time to remove the villages stricken with hardships.