Secretary to the Ministry of Finance Dr. P.B. Jayasundara said that there was no logic behind the Opposition argument that the economy would be subjected to a tsunami type situation and collapse by the time of the Sinhala and Tamil New Year that falls in April. Vehemently denying the arguments of certain sectors over national radio, the Finance Secretary pointed out that Sri Lankan economy is in an extremely strong position.
"The Government has embarked upon several development projects valued at many billions of rupees. The number of countries providing aid to Sri Lanka has been expanded since the year 2005. The government has been able to speedily provide relief to those affected by the recent floods in five districts. It has been able to successfully overcome the damages caused to crops and other forms of destructions," said the Secretary participating in a radio interview with the SLBC today. He also pointed out that the per capita income in the country has come near the 2,400 dollar target.
Sri Lanka recorded an economic growth rate of 8.5 percent in the second quarter of 2010, the highest ever recorded quarterly GDP growth since 2002. The country is far ahead of its regional peers such as Bangladesh, India, and Pakistan. The Governor of the Central Bank has predicted an 8.5% GDP growth for 2011 rising to 9.5% by 2013.