Pathfinder Foundation releases economic policy reform ‘road map’
The document titled Charting the Way forward: Prosperity for All was launched by the Pathfinder foundation on Wednesday.
The Deputy Chairman of the Pathfinder Foundation, Dr. Indrajit Coomaraswamy, following the introduction of the economic policy reform road map, stated that management of the economy has become the most important factor at present.
Dr. Indrajit Coomaraswamy further added that in recent months the country has been preoccupied with constitutional reforms and electoral reforms improving governance. He further noted that even though these are important issues, it is arguable that the management of the economy is the most important thing because the impact on the everyday life of the people and the fortunes of the economy is of paramount importance
He further noted that high priority has to be attached to improving human resources as quickly as possible and that there are the three big challenges which are macro- economic stabilisation, structural reforms and developing our human resources, and these have to be addressed to build a competitive workforce to take the country forward to upper middle income status and beyond.
Executive Director of The Pathfinder Foundation, Lakshman Siriwardena stated that at the concluded presidential election, it was decided that attempts must be taken to submit to the main political parties, the fundamental policies that are required to increase the economic growth rate. The Pathfinder Foundation points out in its road-map that the country’s economy is in urgent need of reforms.
He further noted that The Pathfinder Foundation points out that it is important that all handouts, subsidies, and other welfare measures included in the manifestos of the political parties, should be costed and specific measures should be identified for financing the incremental costs involved.
Prof. Sirimal Abeyratne from the Department of Economics of the University of Colombo stated that it has become essential for Sri Lanka to achieve an economic growth rate of 10 percent of above and sustain such growth over the long term. He also noted that the economic growth will not continue this way in the long term, if the necessary long term policy background is not created and that it is reducing every year. He further noted that economic growth this year, will be less than last year and that Sri Lanka does not have the investment environment that investors are looking for.
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