COLOMBO, Dec. 13 (Xinhua) -- Sri Lanka's central bank has hinted at better prospects for the country's economy next year, a forecast which was also backed by the private sector.
The upturn next year would lead to a 6.5-percent Gross Domestic Product (GDP) growth by 2025, provided that the government was determined to efficiently implement policies outlined by new President Gotabaya Rajapaksa, central bank Senior Deputy Governor Dr. Nandalal Weerasinghe said Friday while delivering keynote address at the Asia Securities 3rd Annual Sri Lanka Investment Conference.
Dr. Weerasinghe highlighted tourism, exports of diversified goods and services, fisheries, agriculture development via advanced technology and banking and capital market reforms as key low-hanging fruits that the government could focus on to implement in the future.
"The sectors have been identified and clear strategies have been outlined to address the issues, but the execution will decide how successful these plans are," Dr. Weerasinghe said, quoted in the local Daily FT.
Sri Lanka's new government last week said it had set a five-year economic development target to guide the country towards a prosperous future.
The target includes achieving a 6.5-percent economic growth per annum from 2020 and a GDP growth of 6,500 U.S. dollars per individual.
