Finance Minister Ravi Karunanayake was selected as the Finance Minister of the Year for Asia-Pacific 2017 by the London based ‘The Banker’ magazine for his efforts to steer Sri Lanka into a new era of economic reform and a change of people’s mindset.
Minister Karunanayake will receive the award at a ceremony to be held next Friday (March 24) in London. Finance Minister Ravi Karunanayake is scheduled to leave the country for this event tomorrow.
The Banker, published in London selected Finance Minister Ravi Karunanayake as the finance minister of the Year for his efforts to best manage, stimulate growth and stabilise Sri Lanka’s economy.
‘The Banker’ said Karunanayake secured to avoid a balance of payments crisis, replenish reserves and rebuild confidence among international investors.
In addition, the magazine reported that Minister Ravi Karunanayake, in his capacity as the subject minister was able to drop the country’s budget deficit to 5.4% in 2016 from 7% in 2015 after he assumed office in January 2015.
This is below the targeted expectations of 5.6%, the Magazine stated. Accordingly, Sri Lanka’s national income grew to Rs. 1,461 billion in 2015 from Rs.1205 in 2014. Tax revenue rose to Rs.1, 356 billion from Rs.1, 050 billion in the same period.
0 comments: