Sri Lanka will be a fully developed country by 2048; economic growth will be based on four pillars - President

by Staff Writer 01-06-2023 | 8:06 PM

COLOMBO (News 1st); President Ranil Wickremesinghe said that nobody will be allowed to drag the country back to the state it was in a year ago.

He said that his government's objective is to transform the country into a fully developed nation on the global stage by 2048, adding that failure to align the country's economy with the modern world & the latest trends in technology, the country will regress

President Wickremesinghe delivered a special statement on the national transformation roadmap on Thursday (1) evening.

Addressing the government's efforts over the past nine months to revive Sri Lanka's economy, the President said the country's economy is gradually recovering from the crisis, thanks to correct policies including the collective efforts of the people.

Outlining the government’s efforts to revive the country’s economy, President Wickremesinghe said these economic reforms will lead to decreased cost of living, improved standards of living, relief for the poor, and a culture of transparency.

President Ranil Wickremesinghe applauded the resilience of all Sri Lankans who navigated through challenging times, driven by their love for the country & said by persisting a little longer on this trajectory, an economically stable future could be achieved devoid of hardships

Sri Lankan President Ranil Wickremesighe said that the country's national transformation roadmap will be based on four pillars to drive economic growth, namely the State Finance and Financial Reforms, Investment Promotion, Social Security Net, and the restructuring of State Owned Enterprises.

The President said the necessary reforms will be introduced to achieve long-term debt sustainability, while also introducing new economic policies that will renew faith on the country's economy.

President Wickremesinghe announced the introduction of the Lab Methodology for effective business proposal implementation. This new system will involve ministers, officials, subject matter experts, & private sector representatives collaborating to address obstacles & facilitate the smooth roll-out of investments & projects by actively engaging the private sector .

President Wickremesinghe said over the years, the Sri Lankan people have made three main demands: combating corruption, protecting the poor & vulnerable sections of society, & ensuring transparency in government actions & practices. He assured that the government is actively working to meet these demands