President stresses balanced path to development

Sri Lanka President Anura Kumara Dissanayake emphasized that achieving economic success alone is not sufficient for a nation’s development, 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 yesterday (June 4).

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

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

President Dissanayake 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 public service experts 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.