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Sri Lanka Lays Plans for Economic Future

Wednesday, September 06, 2017

Presenting a united front, President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe yesterday jointly unveiled the Government’s policy framework titled ‘V2025: A Country Enriched’, which detailed the broad goals that the two parties wished to achieve over the next few years. “Over the next years, within the 2025 Vision, we will implement a comprehensive economic strategy to address constraints to growth. We will aim to raise per capita income to $ 5,000 per year, create one million new jobs, increase FDI to $ 5 billion per year and double exports to $ 20 billion per year. These intermediate targets lay the foundation for our Vision 2025: Sri Lanka to become an upper-middle income country,” read the page titled ‘A Three Year Economic Delivery Programme’. Other sections such as Constraints to Growth identified persistent fiscal deficits, poor investor confidence, poor export performance and limited public finance as culprits. The booklet also reiterated previous Government pledges to increase direct taxes, increase public revenue to 16% of GDP, allow a floating exchange rate and continue fiscal consolidation. 

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