Sri Lanka requires attention towards policy-oriented research activities, a pre- requisite if the country is to avoid growth stagnation, the Central Bank of Sri Lanka (CBSL) said this morning.

Stressing the need to promote an innovation-driven economy to keep up with the region, CBSL Governor Prof. W. D Lakshman pointed out the need for more research across diverse subject areas.

“We need to promote a research culture among members of all disciplines, and the academia need to come together as a community to find sustainable solutions to some of the hindrances in carrying out effective research,” said the Governor addressing the Association of Professional Bankers’ (APB) Research Symposium this morning.

Prof. Lakshman added that there is a pressing need to improve productivity in the country which can be achieved with improved emphasis on promoting innovation.

“We need to continuously develop productivity by promoting innovation to develop new knowledge and being vigilant about movements in socio-economic and politically sensitive indicators like poverty, unequal distribution, and unemployment,” elaborated the Governor.