Let’s Face the Challenges

After thirty years of conflict, the people of Sri Lanka deserve better than continuing with the boom and bust cycle which has capped the country’s growth rate at 5-6% over the last three decades. There is ample historical evidence from both Sri Lanka and from around the world that inward-looking autarkic strategies do not result in accelerated growth and development on a sustained basis. This is particularly so for a relatively small economy like Sri Lanka. Export growth has, therefore, to play a major role in taking the economy to a higher growth trajectory. In a context of globalised markets for goods and services, this places a very high premium on the competitiveness of the economy.