Current location:Planet Pulse news portal > world
Sri Lanka to join Regional Comprehensive Economic Partnership: president
Planet Pulse news portal2024-05-07 22:26:12【world】0People have gathered around
Introduction(Xinhua) 16:59, February 07, 2024COLOMBO, Feb. 7 (Xinhua) -- Sri Lankan President Ranil Wickremesing
COLOMBO, Feb. 7 (Xinhua) -- Sri Lankan President Ranil Wickremesinghe Wednesday said his country plans to join the Regional Comprehensive Economic Partnership (RCEP).
The president said at the inauguration of the fifth session of the ninth parliament that there has been a significant turnaround in the nation's economic landscape.
Presenting his policy statement, Wickremesinghe said that despite the 1.9 percent gross domestic product (GDP) deficit in 2022, Sri Lanka achieved a surplus by the end of 2023, marking the first such occurrence since 1977.
He said the country's tax registrations have surged from 437,547 to 1,000,029 between 2022 and 2023, and inflation, which stood at 50.6 percent last year, has dramatically decreased to a mere 6.4 percent today.
Wickremesinghe also revealed that there has been a substantial increase in tourist arrivals.
From 194,495 visitors in 2021, arrivals surged to 1,487,303 in 2023, with over 200,000 tourists visiting in January this year, he said, projecting a further increase in annual tourist arrivals to 5 million in the future.
Wickremesinghe added that despite a 7.8 percent GDP contraction and six consecutive quarters of negative growth since 2022, the nation rebounded with a 1.6 percent growth rate in the third quarter of 2023.
The president said these are remarkable achievements, contrasting them with Greece's decade-long struggle to recover from economic collapse.
Despite facing similar challenges, Sri Lanka managed to accomplish significant progress in a relatively short period, he said.
Wickremesinghe also pledged the modernization of all security networks, including intelligence agencies, equipment, training methods, troops and strategic activities, to effectively address emerging challenges.
The president also proposed to fully implement the free trade agreement with Singapore and pursue similar agreements with China, Indonesia and Bangladesh.
To catalyze economic growth, the Port City of Colombo has been identified as a special financial zone, facilitating the enactment of necessary laws and ordinances for conducting international financial transactions in the region, said Wickremesinghe.
Address of this article:http://canada.camilleandconfettis.com/article-6c299938.html
Very good!(8)
Related articles
- Netanyahu uses Holocaust ceremony to brush off international pressure against Gaza offensive
- Prue Leith's recipe for seeing red... her husband's online shopping habit!
- US, UK issue new sanctions on Iran in response to attack on Israel
- 'MPs are complaining, m'lud. Lammy has gone supersonic
- Revealed: The '18 DEMANDS' Muslim Vote group issued to Keir Starmer after dozens of pro
- Virginia fathers narrowly avoid being crushed while sitting by backyard fire pit
- Dubai rain: Emirates again halts local flight check
- Chinese navy is operating out of Cambodia's Ream base: US think tank — Radio Free Asia
- Auditors can't locate former St. Louis circuit attorney to complete state audit
- Scientists uncover missing link between junk food and cancer
Popular articles
- Stock market today: Asian shares mostly gain after tech shares lead Wall St higher
- UK's Princess of Wales says she is under cancer treatment
- Soldiers who lost limbs in Gaza fighting are finding healing on Israel's amputee soccer team
- High mercury levels in some Lake Maurepas fish bring meal restrictions, state officials say
Recommended
Rotting bodies and fake ashes spur Colorado lawmakers to pass funeral home regulations
Virginia fathers narrowly avoid being crushed while sitting by backyard fire pit
Former NHL star Jaromir Jagr scores in his first game since turning 52
Finding an apartment may be easier for California pet owners under new legislation
The foods that cancer experts want you to stop eating
Flyers at migrant camp show how the border is inflaming US politics
UK's Princess of Wales says she is under cancer treatment
New York man Craig Ross Jr is sentenced to 47 years to life for sexually assaulting nine
Links
- Governor's pandemic rules for bars violated North Carolina Constitution, appeals court says
- Chicago woman pleads guilty, gets 50 years for cutting child from victim's womb
- Alabama lawmakers OK bill barring state incentives to companies that voluntarily recognize union
- Barry Keoghan sports a Burberry bandana on his face as he playfully poses with Stormzy at Coachella
- Police seeking arrest of Pennsylvania Rep. Kevin Boyle
- Trump to meet with Polish president Duda as NATO leaders call for additional support for Ukraine
- Baseball legend Whitey Herzog
- Sylvester Stallone breaks silence amid Tulsa King 'toxic workplace' scandal
- Kourtney Kardashian breaks silence on her 'Auntie Karen' Houghton nearly a month after her death
- Baseball legend Whitey Herzog