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Sri Lanka needs to attract a significant amount
of foreign direct investments and increase exports to build the
foreign reserves; that will help the country get a rating upgrade,
To boost ailing economy:
The Government needs to ‘recalibrate’ its 2016
Budget and present the final version to the International Monetary
Fund (IMF), seeking financial support to give a boost to the ailing
economy. Central Bank Governor Arjuna Mahendran said he was
confident of economic recovery.
The business community raising concerns over the
recent down rating of Sri Lanka by Fitch, stressed the need to
address areas of the economy urgently to reverse the status if the
country is to improve its competitive standing in the region.
Sri Lanka will soon become the first country to
have 100 percent LTE 4G technology coverage and the first to bring
universal internet access to every citizen, prompting the highest
downloading speeds anywhere. It will also soon have total fibre
optic coverage,
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