IPS launches ‘State of the economy 2013’: Sri Lanka’s transition to a middle income economy

Thursday, 17 October 2013 00:00 -     - {{hitsCtrl.values.hits}}

The Institute of Policy Studies of Sri Lanka (IPS), country’s apex think tank on socio-economic policy issues, launched its annual flagship publication, the ‘State of the Economy 2013’last Tuesday at its Annual National Conference held at the IPS Auditorium. This year, the report looks at ‘Sri Lanka’s Transition to a Middle Income Economy’ and which areas require particular policy attention in order to facilitate this transition. Senior Minister for Human Resources D.E.W. Gunasekera was the chief guest at the launch. The opening remarks at the event were delivered by Institute of Policy Studies of Sri Lanka (IPS) Executive Director Dr. Saman Kelegama where he stated that this year’s report takes an ‘explanatory look at many promising development achievements, opportunities and challenges ahead of the country. Dr. Kelegama also stated that the report argues that “rising socio-economic prosperities in Sri Lanka, if fostered skilfully and inclusively, with progressive public policy can spur economic dynamism, innovation and social progress and place the country on firmer grounds as it makes a decisive transition into the middle income economy and beyond”. IPS has been publishing the State of the Economy report since 1992 with a complementary theme selected each year. This annual report, which is conceptualised early this year, is a collective effort by the research staff of IPS. With the conclusion of the welcome address, the IPS Chairman Prof. W.D. Lakshman presented a copy of the ‘State of the Economy 2013’ report to Minister D.E.W. Gunasekera. Delivering the keynote address, Minister Gunasekera stated that transiting to a middle income economy brings many challenges to Sri Lanka and addressing these challenges may require key policies and government interventions. The Minister also highlighted that it is important to have a developed skilled labour force, improve quality education and increase access to quality and effective health care in order to sustain economic growth in the country. With the end of the inauguration ceremony, the event also comprised three panel discussions on issues related to sustainable growth of the Sri Lankan economy. The three sessions were represented key socio-economic experts in Sri Lanka as well as IPS research staff. In-depth discussions were made under the broad topics of ‘Macroeconomics and Competitiveness of Sri Lanka’, ‘Youth and Middle Class’ and ‘Social Protection and Climate Change’. The complete ‘State of the Economy 2013’ report can be purchased from the publications section of the IPS, located at No. 100/20, Independence Avenue, Colombo 7. For more information, contact the Publications Unit on 0112143100.