Economic reforms should have been carried out several decades ago – Semasinghe

State Minister of Finance Shehan Semasinghe has assured that while the government will not take any decisions that would adversely affect the country’s economy, the reforms currently being implemented, in compliance with the agreement under the International Monetary Fund (IMF), are ones that should have been in place decades ago.

Addressing the North Central Province Outstanding Entrepreneurs Awards Night held on Friday, the State Minister highlighted that the current reforms carried out by the government are reforms that should have been done two or three decades ago. 

Emphasising the fact that the government understands the added burden imposed on the people of Sri Lanka as part of the process of resolving the country’s economic crisis, the State Minister noted that it is every person’s responsibility, including policy makers, to maintain the steadfast recovery Sri Lanka is currently experiencing.

Speaking further with regards to the agreement Sri Lanka has with the IMF, Semasinghe stated that while countries such as India and South Korea have become economically powerful after receiving support from the IMF, Sri Lanka too,  will have a strong economy following the full implementation of the reforms.