Achieving economic success alone is not sufficient for a nation’s development, President Anura Kumara Disanayake emphasized today (04), highlighting that economic progress must be accompanied by social development and a transformation in political culture.

The President made these remarks during a discussion held at the Ministry of Finance with senior officials of the Treasury.

He stated that countries such as China, South Korea and Vietnam achieved significant economic transformation through decades of collective effort alongside the people.

The President emphasized that the responsibility of developing a country rests with individuals collectively and that everyone must work together in a united effort to achieve national goals.

President Disanayake stressed 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.

The President instructed Treasury officials to implement structural reforms in key institutions based on core government policy, while maintaining strategically important sectors under state oversight. He urged the officials to act swiftly in this regard.

He also drew attention to key external factors likely to impact Sri Lanka’s economy, including the International Monetary Fund’s Extended Fund Facility programme, newly imposed tariffs from the United States, and the upcoming expiration of the GSP+ concessions in 2027.

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

(PMD)