Dividends for the country after victory
The government assured that the victory in the battlefield will give
dividends to the country's economy.
Minister of State Revenue Ranjith Siyambalapitiya said that the
economy will boost in the new peaceful era beginning with the defeat of
the LTTE terrorists. In 2005, there were two major challenges before
President Mahinda Rajapaksa's government; defeating terrorism and
achieving high economic growth.
The first challenge was successfully faced and there is much optimism
regarding the future and there are plenty of opportunities to achieve
the second challenge, economic growth, Minister told the media.
Siyambalapitiya said that economic activities in the North and the
East have been resumed under the Special Task Force appointed by the
President. The initial task is resettlement of the people and
reconstruction of the war torn region. Economic activities such as
agriculture, mining and mineral, fisheries and tourism will be resumed
A vast new market has been opened and it will boost businesses.
Reconstruction of housing and infrastructure too add value to the GDP".
Last three years we have maintained an average of 6 percent economic
growth rate and we hope that we will be able to maintain the same growth
rate this year too under the new political situation, Siyambalapitiya
The Minister said that already there are positive indication.
The Colombo Stock Exchange has performed remarkably well after the
In 2008 there was a 40 percent drop in the stock market and by May 19
main indices rose by 35 percent.
The mega development projects already initiated by the government
such as coal power, ports and highways will be developed rapidly as the
government will be able to find capital easily, he said.
Accepting the unhealthy foreign reserves position in the country, the
minister said that the government has given top priority to increase
foreign exchange earnings by increasing export revenue through improving
productivity and capturing new markets. He said that all technical
matters related to the IMF loan have been finalised and the government
is expecting the loan very soon.