What is our economy lacking?
The world is in a constant state of change and economies are growing faster than ever. If Sri Lanka falls off of this rapid wagon, we would never be able to get backup again. Let us take a moment to think about what we are missing. We have one of the highest literacy rates in South Asia but our economic growth rate has dropped from 7.7 to 6.4 this year.
One of the major issues we face is gender inequality. Many women in our country are subjected to discrimination in homes and in some instances our culture too promotes this. The deprivation of women from work places is not just a loss to our country but to the world. Of our unemployed population 70% are women. Other countries are fighting for equal pay act laws but in our country a lot of women who wish to be employed do not even have that option.
There are immense benefits of having a more productive population. Higher incomes in each household would allow for a better standard of living so they could obtain better education and healthcare. It is a chance for people to get out of the poverty circle. It is a chance for a better lifestyle.
One major dilemma our country will face in 20 years is a demographic dividend. In theory, it should spur economic growth since dependency rates fall as fertility rates fall. In Sri Lanka however, the reality is that the current working population is 60% and as years go by, this working population grows older and retires causing dependency ratios to rise rapidly since a disproportionate number of old people rely upon a smaller percentage of the next generation. This not beneficial to our economy.
It is the 21st century and all women need to feel empowered and accepted – they must all be able to enjoy the freedom to study and work. We as the youth desire this change.