Govt. eyeing 1% economic growth this year: Cabraal

• Says such growth would put SL on sound economic position to recovery

By Yohan Perera and 
Ajith Siriwardana
Sri Lanka is targeting an economic growth of one percent, end of this year, as such a rate would push the country to the path of recovery, Money, Capital Markets and State Enterprise Reforms State Minister Ajith Nivard Cabraal told Parliament yesterday. 

He said one percent growth would put Sri Lanka on a sound economic position, compared to many other countries in the world. 

“The country might see foreign investments coming in two weeks’ time,” Cabraal said while highlighting that the Board of Investment (BOI) had got into investment agreements worth US $ 1.5 billion, during the first nine months. Cabraal also said increased foreign inflows to treasury bills and bonds would also bring in the desired results before long.

He further said the share market has also been stabilised in the recent times.

Cabraal noted that the government has requested banks and finance and leasing companies to give concessions to their clients. 

“We will have to take appropriate action against the banks which deny granting loan payment concessions 
to borrowers.”