‘Per capita income of $ 4,000 an achievable target’
Sarath de Silva
The country’s economic growth will take a three-fold approach -
increasing productivity, exporting more and import substitution.
The 2013 Budget has provided an ideal platform to reach the next
level of growth. The measures taken to prioritise agricultural
development augurs well and could lead to the reduction of the food
The reluctance of the private sector to aggressively involve itself
in agriculture is a setback, National Chamber of Exporters of Sri Lanka
Immediate Past President Sarath de Silva told the Sunday Observer .
Investment in tourism as a growth sector is vital. However, more
emphasis should be paid to agriculture with encouragement for local
The over-dependence on the three main agri crops of tea, rubber and
coconut pose a challenge at present. With new players emerging in the
global market, emphasis on increasing productivity and output are
pre-requisites to remain competitive, he said.
The private sector needs to be proactive, in taking corrective action
and the Budget proposals should be implemented as it will then put the
country on a sound footing.
The Budget has set the stage to achieve a per capita income $ 4,000
by 2016. It could be achieved sooner than expected.
However, 30 to 40 percent of the budget proposals should be
implemented within the next year. With a private sector-oriented
approach, coupled with positive thinking and guidance, Sri Lanka could
reach the set economic targets, he said.
Emphasising that Sri Lanka is an agricultural country, de Silva said
that joint initiatives between the North and the South would be a way
It is important to form these types of joint ventures to solve the
economic ills of the North where cheaper funds could be injected to the
economy. We should derive the full benefit of this advanced productive
budget, to fuel the country’s growth momentum, he said.