Cabraal assures ‘V-shaped’ recovery

28 August 2020 08:29 am - 1 - {{hitsCtrl.values.hits}}

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Says forecasts of doom hold no water

By Yohan Perera and

Ajith Siriwardana

The government’s plan to enable a ‘V-shaped’ economic recovery in Sri Lanka is becoming a reality, Finance State Minister Ajith Nivard Cabraal told Parliament yesterday.

Speaking during the debate on the Vote-on-Account (VOA), Cabraal said the predictions made by many that the country will not recover from the present economic downturn, due to the COVID pandemic, hold no water.

“The government’s plan to enable a V-shaped economic revival is becoming a reality. Our government established a stable economy prior to 2015, despite the conflict. We will succeed in doing the same this time as well,” Cabraal said.

“Some are living on dreams, hoping that the government will not be able to stabilise the economy. However, I would like to stress that this dream of theirs will not come true,” he added.

Cabraal recalled that Sri Lanka managed to maintain an average of 6.4 percent economic growth from 2006 to 2017 while it dropped to 3.7 percent from 2015 to 2019.

He also said the per capita income increased by an average of US $ 200 between the years 2006 and 2015 but it has dropped since 2015.

“We were able to maintain a healthy economy in the past and we will manage it this time as well,” he stressed.

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Comments - 1

Chux Friday, 28 August 2020 02:07 PM

We know your V shaped recovery well as you with Rajapakshas wicked whopping Rs 10740 million from the central bank EPF

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Cabraal assures ‘V-shaped’ recovery

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