AKD to deliver growth oriented Budget today

PRESIDENT and Finance Minister Anura Kumara Disanayake will today afternoon unveil his Government's first fully fledged Budget amidst pressure to reignite economic growth and incomes via higher investments and exports which will also generate new jobs.

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Analysts opined that the phase of natural growth after two years of contraction and stability was over and the country needs a fresh round of stimulus.

Despite having the best-ever macroeconomic indicators post-Independence and political stability with a Government intent on good and clean governance, foreign investors haven't queued up to tap prospects in Sri Lanka internally, as well as regionally-especially the Indian market and elsewhere.

However, proving the ground situation is different, the Board of Investment (BOI) last month revealed that up to September, the realised Foreign Direct Investment (FDI) was up 138% year-on-year (YoY) to $827 million. However, it was inclusive of equity capital of $ 133 million, reinvested retained earnings of $ 132 million, intra-company foreign borrowings of $ 231 million, and long-term commercial loans of $ 331 million.