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Sri Lankan economy grown amidst global crisis

Aug 28, 2011 11:26:03 AM - itnnews.lk

Secretary to the President Lalith Weeratunge stated that despite the view of certain sectors that the local economy would crash under the pressure of the global crisis, the Sri Lankan economy has achieved considerable growth.

He said that some experts and politicians were of the view that the Sri Lankan economy cannot be recovered due to the global uncertainties. He said that all including the government worked to save the economy. While 54 banks were being closed in the U.S, our closed Banks started to open. When inflation was increasing in large countries such as India our inflation dropped to 10 %. The unemployment rate decreased to the lowest level of 4.8%. He said that as Asians we should be armed with management concepts.
The Secretary to the President expressed these views at the annual diploma presentation function of the Sri Lanka Foundation Institute. A large number of students who followed courses in Consultation, Television and Cinema and Management received diplomas from the Secretary to the President. Prof. Carlo Fonseka and Chairman of the Sri Lanka Foundation Dr. Ranjith Bandara were amongst those who participated.