These remarks were delivered during his address at the 129th
Annual General Conference of the Colombo Tea Traders Association (CTTA).
The President highlighted that the tea industry possesses substantial potential to significantly contribute to the country’s economy. He underscored the importance of identifying the challenges within the sector and embracing innovative solutions to facilitate its transformation. Continuing his statement, President Ranil Wickremesinghe further elaborated that the Government’s efforts have been focused on implementing programs aimed at rescuing the nation from economic distress and ensuring stability. However, it’s crucial to recognize that sustaining this economic stability for an extended period beyond a decade will be challenging if we continue to experience a trade imbalance in our economy.
In addressing this, President Wickremesinghe noted that the nation often finds itself compelled to secure foreign loans. He further highlighted that due to budget deficits, there emerges a necessity to print additional currency to cover these deficits.
The President emphasized that the nation stands at a critical juncture where a pivotal decision must be made – whether to revert to old systems or to embrace a more structured economic approach that propels the country forward into a new era. President Wickremesinghe asserted, “Remarkably, even amidst times of conflict, our nation’s economy demonstrated resilience. For instance, garment factories were established during wartime, showcasing our ability to navigate challenges.”
هذه القصة مأخوذة من طبعة September 2023 من Business Today Sri Lanka.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة September 2023 من Business Today Sri Lanka.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Breaking Barriers: Peoples Leasing & Finance PLC and Hayleys Solar Collaborate
People’s Leasing & Finance PLC (PLC) and Hayleys Solar have entered into an agreement through a Memorandum of Understanding (MoU).
NSB Continued to Prove its Resilience within an Economic Shudder
NSB demonstrated its mettle by recording a Profit after Tax (PAT) of 7.2 billion rupees for the fiscal year ended December 31, 2023.
Pan Asia Bank Posts Steady Performance in 1Q 2024
Pan Asia Banking Corporation reported a steady performance reflecting improved macro economic conditions as the Bank reported its financial performance during 1Q 2024, which showed judicious portfolio management and prudency in dealing with possible fallout on its asset quality in challenging times.
AWS Beats Azure to Top Global Cloud Computing Market Chart with a 31 percent Share
The cloud computing market attracts users worldwide, and the battle for dominance among top providers is a constant narrative.
Ban Ki-moon Appreciates Growing Close Partnership between GGGI and Sri Lanka
During a meeting between Sri Lankan Prime Minister Dinesh Gunawardena and the Chairman of the Global Green Growth Institute (GGGI), Ban Ki-moon, the former expressed his gratitude for the close partnership that exists between Sri Lanka and GGGI.
Korea Provides Support to Several Sectors
Ambassador of Republic of Korea, Miyon Lee met with Prime Minister Dinesh Gunawardena to discuss follow up actions on the decisions taken at the discussions held during the Prime Minister’s visit to Korea.
Many Benefits to a Number of Sectors in Sri Lanka as a result of PM Dinesh Gunawardena's visit to Korea
During a meeting, the Governor of Gyeongsangbuk-du Province of the People’s Republic of South Korea, Lee Cheol Woo, met with Sri Lankan Prime Minister Dinesh Gunawardena.
The Good Cashmere Standard Boosts its Sustainability Credentials with Focus on Animal Welfare and Transparency
By revising the standard’s criteria and embarking on a new collaboration with TextileGenesis, A Lectra Company, the Aid by Trade Foundation (AbTF) is boosting the credentials of The Good Cashmere Standard (GCS) as an independent seal for sustainably produced and traceable cashmere fibers from Inner Mongolia.
The Central Bank of Sri Lanka Releases its inaugural Annual Economic Review and Financial Statements and Operations of the Central Bank for the Year 2023
The inaugural publication under Section 80 of the Central Bank of Sri Lanka Act, No. 16 of 2023 (CBA),namely, the Annual Economic Review 2023, and the inaugural publication under Section 99 of the CBA, namely, Financial Statements and Operations of the Central Bank 2023, were presented to Ranil Wickremesinghe, the President and Minister of Finance, Economic Stabilization and National Policies, by Dr. P Nandalal Weerasinghe, the Governor of the Central Bank of Sri Lanka.
President Ranil Wickremesinghe at the Opening of ITC Batnadina Hotel
President Ranil Wickremesinghe expressed his dedication to fostering an economic landscape in the nation that would prevent future struggles among its citizens.