More focus on knowledge economy concept
Shirajiv Sirimane shirjivs@gmail.com
The 2015 budget to be presented this month will not be a budget full of election goodies but it will be a development oriented one Secretary to the Treasury Dr. P.B. Jayasundara said yesterday.
Speaking at the Capital Market Conference 2014 held yesterday he said the forthcoming budget presented on October 24 will focus on promoting the knowledge economy concept, for which the country has gained momentum.
He also said the country has been maintaining steady economic growth at 7.8%. High economic growth has been maintained in the recent years and if the economic growth rate lowers to around 6% it would be considered very low.
CSE Chairman Vajira Kulatilleke, Central Bank Governor Ajith Nivard Cabraal, Secretary to the Treasury, Dr. P. B. Jayasundera and SEC Chairman Dr. Nalaka Godahewa at the event.
He also said the recent visit of Japanese and Chinese Prime Ministers have helped Sri Lanka to secure commitments of in excess of US$ 2 billion of investments to promote tourism and aviation as well as trade and tourism.
The net value of Unit Trusts has shifted from less than Rs. 6 billion to over Rs. 75 billion and the value of listed debt has increased from Rs. 12.5 billion in 2009 to Rs. 68.7 billion by end 2013. The market capitalization is now over Rs. 3 Trillion and appreciation of 300 percent. “So, all sounds good for the industry participants and investors as the market has grown well on a diversified basis and underscores the country's economic prospects,” he said.
The topic of Asset Markets have attracted global attention in recent times with assets bubbles in well established markets that have compelled everyone to take note of underlying risk management challenges. Understanding this is difficult when the ‘going is good’ since the tendency is to forget everything and feel good, but when the ‘going is bad’, everything becomes amazingly hard. We must not permit good times of today, to be the sad thoughts of tomorrow.
www.dailynews.lk
Shirajiv Sirimane shirjivs@gmail.com
The 2015 budget to be presented this month will not be a budget full of election goodies but it will be a development oriented one Secretary to the Treasury Dr. P.B. Jayasundara said yesterday.
Speaking at the Capital Market Conference 2014 held yesterday he said the forthcoming budget presented on October 24 will focus on promoting the knowledge economy concept, for which the country has gained momentum.
He also said the country has been maintaining steady economic growth at 7.8%. High economic growth has been maintained in the recent years and if the economic growth rate lowers to around 6% it would be considered very low.
CSE Chairman Vajira Kulatilleke, Central Bank Governor Ajith Nivard Cabraal, Secretary to the Treasury, Dr. P. B. Jayasundera and SEC Chairman Dr. Nalaka Godahewa at the event.
He also said the recent visit of Japanese and Chinese Prime Ministers have helped Sri Lanka to secure commitments of in excess of US$ 2 billion of investments to promote tourism and aviation as well as trade and tourism.
The net value of Unit Trusts has shifted from less than Rs. 6 billion to over Rs. 75 billion and the value of listed debt has increased from Rs. 12.5 billion in 2009 to Rs. 68.7 billion by end 2013. The market capitalization is now over Rs. 3 Trillion and appreciation of 300 percent. “So, all sounds good for the industry participants and investors as the market has grown well on a diversified basis and underscores the country's economic prospects,” he said.
The topic of Asset Markets have attracted global attention in recent times with assets bubbles in well established markets that have compelled everyone to take note of underlying risk management challenges. Understanding this is difficult when the ‘going is good’ since the tendency is to forget everything and feel good, but when the ‘going is bad’, everything becomes amazingly hard. We must not permit good times of today, to be the sad thoughts of tomorrow.
www.dailynews.lk
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