President stresses need for holistic national development and collective governance

Thursday, 5 June 2025 04:47 - - {{hitsCtrl.values.hits}}

Highlights need for social progress, reformed political culture at high-level meeting with senior Treasury officials
Calls for accelerated structural reforms aligned with Govt. policy, while retaining State control over strategic sectors
Flags key external risks to economy—IMF program, US reciprocal tariffs, expiry of GSP+ concessions in 2027
Cites examples like China, South Korea, and Vietnam for economic transformation through collective national effort
Asserts collaborative governance, opposing arbitrary political interference and promoting expert-driven decision-making

President Anura Kumara Disanayake yesterday stressed that a country’s progress must go beyond economic success, insisting on the importance of accompanying social development and a shift in political culture.

He made these remarks during a high-level discussion with senior Treasury officials at the Finance Ministry.

The President instructed Treasury officials to expedite structural reforms in key institutions based on core Government policy, while maintaining strategically important sectors under State oversight.

He also drew attention to key external factors likely to impact Sri Lanka’s economy, including the International Monetary Fund’s (IMF) Extended Fund Facility (EFF) program, newly imposed reciprocal tariffs by the US, and the upcoming expiration of the Generalised Scheme of Preferences Plus (GSP+) trade concessions in 2027.

Drawing parallels with countries like China, South Korea, and Vietnam, Disanayake noted that their economic transformations were the result of decades of collective effort involving the people.

The President underscored the importance of unity and collective responsibility in achieving national objectives. He made it clear that everyone must work together in a united effort to achieve national goals.

Disanayake asserted that as a political leader, he does not intend to impose his views on officials, but rather reach necessary decisions through structured dialogue between experts in the public service and political leadership.

He recalled that several past projects in Sri Lanka had failed due to arbitrary political interference.

Labour Minister and Economic Development Deputy Minister Dr. Anil Jayantha Fernando, Finance Deputy Minister Dr. Harshana Suriyapperuma, Treasury Secretary Mahinda Siriwardana, and several senior Treasury officials were present at the discussion.

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