Governor of Sri Lanka’s Central Bank Dr. Indrajit Coomaraswamy said that for Sri Lanka it is of utmost importance that effective fiscal management drives its work.
“Sri Lanka’s location and external relations stand well in supporting an export-driven economy. It is important that we find financial options that can support the achievement of these goals,” he said.
Coomaraswamy was speaking at the launch of the Economic and Social Survey for Asia and the Pacific 2016 by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP).
Speaking at the event, Una McCauley, UN resident Coordinator in Sri Lanka, said ESCAP is the United Nation’s regional development arm for the Asia-Pacific region, which is home to 4.1 billion people, two thirds of the world’s population.
As such, she said ESCAP is the most comprehensive of the UN’s five regional commissions, and the largest UN body serving the Asia-Pacific region with over 600 staff.
In Sri Lanka, the survey reported that economic growth moderated to 4.4 percent in 2016 from 4.8 percent in 2015 and an average of 7.4 percent during the period 2010-2014. The report also showed that economic growth in the country was expected to rebound modestly to 4.8 to 4.9 percent in 2017 and 2018. (Courtesy Xinhua)