Video : The budget is positive, a statement from the IMF

Wednesday, 04 December 2013 - 8:06

Dr. Koshy Mathai delivering his last evaluation of the Sri Lankan economy as the Resident Representative for the International Monetary Fund balanced out praise with precaution yesterday, insisting Government revenue expansion, realistic growth projections and fine handling of monetary policy remain crucial.

Dr. Mathai, while noting that the overall forecast for the economy was “alright,” mentioned that the Government’s revenue envelope needs to expand to support increasing capital expenditure.

He pointed out that the main concern of the IMF was that growth projections of 7.5% upwards in Budget 2014 are too optimistic.

Referring to an independent evaluation by the IMF on the 2.6 billion dollar Stand-by Agreement concluded in 2012, Dr. Mathai mentioned that it was considered to be successful.

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