Economy News Update: One of the series of economic development goals announced by the government recently for the next five years is a per capita GDP share of US$ 6,500 per individual Sri Lankan.
Making this announcement at the Information Department’s Cabinet media briefing, Colombo, last morning, Minister of Information and Communication Technology, Higher Education, Technology and Innovation and Co-Cabinet Speaker Bandula Gunawardana said that this target was one of several primary development goals set by the government for the period 2020-25.
The declared goals are: sustaining economic growth in Sri Lanka at or above 6.5 percent per year, maintaining US$ 6,500 per capita income, holding the unemployment rate below 4 percent, keeping inflation below 5 percent per year, keeping the budget deficit below 4 percent, maintaining single-digit interest rates, and maintaining the Rupee’s value at a stable level.
At this week’s meeting, the Cabinet adopted the Cabinet Paper presented by Prime Minister Mahinda Rajapaksa, Minister of Finance, Economic and Policy Planning, as the “National Policy Framework” of the government, Minister Gunawardana said. He said all ministries, state ministries, departments, other government institutions, regional councils, and local government bodies should conduct their work in accordance with the National Policy Framework Work. The detailed instructions will be given to the institutions concerned.
The ten National Policy Governance Principles are: Priority for National Security; Neutral, Non-Aligned, Foreign Policy; Corruption-Free Administration; New Constitution that fulfills the wishes of the people; Productive Citizenship and Vibrant Human Resource; People-Centric Economic Development; Technology-Based Society; Physical Resources Development; Sustainable Environmental Man;
Gunawardana pointed out that since the issue of the relevant Gazette notifications, all rules and regulations are being implemented. Can be adopted within three months in Parliament. “There is no requirement for them to be presented immediately in Parliament.
It can be completed within a three-month period. The arguments of the UNP and other political parties are therefore unfounded, “he claimed.