Sri Lanka aims for 8% economic growth in 2007

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Source: CCTV.com | 02-28-2007 09:17

The island nation of Sri Lanka has undergone significant changes in the 59 years since it emerged from colonial rule as an independent nation.

Its transition to a market economy began 1979 with a series of structural reforms. Since then, the country has enjoyed strong economic growth. The government has set this year's target at nearly eight percent.

Colombo is concentrating on ways to boost the national economy for 2007 with particular focus on raising per capita income.

Mahinda Rajapaksa, Sri Lankan President, said, "This government has introduced a 10-year development plan to usher in a new era for all Sri Lankans. The aimed is to invigorate our economy and put the country on a strong economic footing. Our plan has led to an economic renaissance with a focus on agriculture, industries and service sectors."

The Government is investing billions of rupees in the massive Weerawila Airport Development Project and several main highway development projects.