Former President Ranil Wickremesinghe has proposed that Sri Lanka targets a US $1 trillion economy by 2055, asserting the need for ten-fold economic growth. He emphasized collaboration with India and criticized the current government’s handling of a key renewable energy project, linking successful economic restructuring to IMF approval.
Former President Ranil Wickremesinghe has advocated for Sri Lanka to set a goal of achieving a US $1 trillion economy by the year 2055. In a recent television interview, he emphasized that a global shift in power towards Asia, particularly in the Indian Ocean region, presents a significant opportunity for Sri Lanka’s economic growth.
To realize this ambitious target, Wickremesinghe noted that the nation must aim for a ten-fold growth of its economy over the next three decades. He expressed confidence in this goal, comparing it to India’s similar economic aspirations during the same timeframe.
Wickremesinghe stressed the necessity for Sri Lanka to enhance its economic integration and cooperation with India. He pointed out various collaborative efforts made between the two countries during his administration, particularly in renewable energy, agriculture, and improving infrastructure connectivity.
Furthermore, he criticized the current government’s hesitation to advance the Adani Group’s renewable energy project in Mannar. He questioned the logic behind the NPP government’s renegotiations of an established agreement, suggesting that this could discourage future large-scale investments.
In addressing the question of whether the International Monetary Fund (IMF) program is the sole solution for Sri Lanka’s economic issues, Wickremesinghe noted that successfully restructuring the nation’s debt hinges upon securing IMF certification. He recognized the ongoing struggles faced by citizens due to the economic crisis and warned that failing to implement the program could lead to further hardships.
In summary, former President Ranil Wickremesinghe has proposed an ambitious vision for Sri Lanka’s economic future, aiming for a US $1 trillion economy by 2055. He underscored the importance of economic collaboration with India and criticized the government’s hesitance regarding significant projects. Wickremesinghe also cautioned about the necessity of completing the IMF program to avoid further economic distress for citizens.
Original Source: www.newswire.lk
