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Sri Lanka needs USD 8 billion to strengthen economy

12 Nov, 2016

Sri Lanka needs USD 8 billion to strengthen its economy, Prime Minister Ranil Wickremesinghe told Parliament today.

He said that Sri Lanka received between USD 600-700 million this year but it needs more than that to have a stable economy.

The?Prime Minister said that the Government will look to get that USD 8 billion by expanding its trade market.

He said that Sri Lanka will sign trade agreements with China, India, Singapore and several other countries.

The?Prime Minister said Sri Lanka will also look to the US under its new administration to sign a trade deal.

Sri Lanka is also looking to regain the GSP plus trade concession from the European Union to help push trade between Sri Lanka and the EU.

Wickremesinghe noted that the?special economic zone in Hambantota to be setup with China will also help Sri Lanka’s economy.

The tourism industry will also see a boost through the development of Sri Lanka’s ports and airports, he said.

The Prime Minister urged the opposition to support the budget and the economic policies of the government to take the country forward. (Colombo Gazette)

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