CB Governor briefs Economic Management Committee

The Central Bank Governor Indrajit Coomaraswamy has briefed the Cabinet Committee on Economic Management on the current state of the economy, outlining hardships that lay ahead.

According to a minister who wished to remain anonymous, the Governor, in his detailed briefing also dealt with issues relating to debt re-payment. In this case, the government is expected to an uphill task for the next few years.

The government is also compelled to restrict capital investments given the current financial constraints.

When asked to comment, Finance Minister Ravi Karunanayake said there was a briefing with the areas the government had made progress also being highlighted.

The minister said the Government's fiscal performance had been up to the mark and the revenue level increased.

“We have moved from negative to stable,” he said.

The minister said no one had assumed that the government would achieve the targets that were given. (KB)