Government's new National policy framework looks to maintain a 6.5% GDP or higher growth rate

The Government's new National policy framework titled 'Vistas of  Prosperity and Splendour' has been released through the Treasury website www.treasury.gov.lk.

According to a statement released by the Finance Ministry the policy frameowrk is  aimed at achieving the fourfold outcome of -productive citizens, a contented family, a virtuous, disciplined  and just society and a prosperous nation.

Accordingly, it is mandatory for all Government Ministries, Departments, Provincial Councils and Local Authorities as well as all government agencies to implement their policies and functions in accordance with this new Government Policy, the statement said.

Among the main objectives includes maintaining a 6.5% or higher GDP growth rate under the macroeconomic program, achieving a per capita income exceeding US dollar 6500 during the period of 2020 -2025.

The government's policy also elaborated on keeping the unemployment rate below 4% and the inflation rate below 5%, as well as to manage the government revenue and expenditure to keep the budget deficit below 4% of GDP.

Further it also provides guidelines to maintain a single digit rate of interest and to maintain the exchange value of the rupee at a stable level.
  
Under this public policy statement, steps will be taken to implement a national and international partnership with the following ten principles.

1.    Priority to National Security
2.    Friendly and Non-aligned foreign policy
3.    An Administration free from corruption
4.    New Constitution that fulfills the People’s wishes
5.    Productive Citizenry and a vibrant Human Resource
6.    People Centric Economic Development
7.    Technology based Society
8.    Development of Physical Resources
9.    Sustainable Environmental Management
10.    Disciplined, Law abiding and value based society

It is the responsibility of all Ministries, Departments and Heads of Government institutions to comply with this National Policy Statement of President Gotabhaya Rajapaksa who came to power on November 18, 2019.

In order to achieve all its objectives all Secretaries to Ministries and all other government institutions should do their best to make their development work a reality in line with this new policy statement.

The proposal to adopt the election manifesto of Mr Gotabaya Rajapaksa as the Government’s National Policy Framework made by Prime Minister Mahinda Rajapaksa in his capacity as the Minister of Finance, Economic and Policy Development, was approved by the Cabinet of Ministers in the first week of December.

The new Government’s Policy Statement has been released in all three languages www.treasury.gov.lk and all other government agencies are requested to download it and make it available in their  respective web sites.