National economic targets set for 2020-25

Release time:2019-12-06 Publisher:Lanka Voice

A GDP per capita income share of US$ 6,500 per individual Sri Lankan is among the series of economic development targets announced for the next five years by the Government yesterday. Making this announcement at the Cabinet media briefing at the Information Department, Colombo, last morning, Information and Communication Technology, Higher Education, Technology and Innovations Minister and Co-Cabinet Spokesman Bandula Gunawardana said that this target was among several key development goals set by the Government for the 2020-25 period.

The announced targets are: maintaining Sri Lanka’s economic growth at or above 6.5 percent per annum, US $ 6500 per capita income, maintaining the unemployment rate at below 4 per cent, keeping inflation below 5 per cent per annum, maintaining the Budget deficit at below 4 per cent, maintaining single digit interest rates and, sustaining the value of the Rupee at a stable level.

At its meeting this week, the Cabinet adopted the Cabinet Paper presented by Prime Minister, Finance, Economic and Policy Planning Minister Mahinda Rajapaksa as the Government’s ‘National Policy Framework’, Minister Gunawardana disclosed. He said that all ministries, state ministries, departments, other state institutions, Provincial Councils and Local Government bodies will carry out their work according to the National Policy Frame Work. The detailed instructions will be issued to the relevant institutions.

“The ten Principles of Governance in the National Policy are: Priority to National Security; Friendly, Non-aligned, Foreign Policy; Administration Free from Corruption;

New Constitution that fulfils the people’s wishes; Productive Citizenry and a vibrant, Human Resource; People-Centric Economic Development; Technology Based Society; Development of Physical Resources; Sustainable Environmental Management; and, Disciplined, Law Abiding and Values-based society,” the Minister elaborated.

Gunawardana pointed out that all rules and regulations currently being implemented since the issue of the relevant Gazette notifications. can be passed in Parliament within three months. “There is no requirement to present them in Parliament immediately.

It can be done within a period of three months. Therefore, what the UNP and other political parties claim is invalid,” he argued.

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