Sri Lanka is to find alternative oil resources
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- Published on Friday, 23 March 2012 12:07
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The Secretary to the Ministry of Finance Dr. P.B. Jayasundara said that if there is a problem in purchasing the fuel required by Sri Lanka, the government is ready to purchase fuel from alternative sources.
He told a media conference held in Colombo yesterday that attention has been focused on purchasing fuel from Saudi Arabia and Oman.
Referring to the economy, the Secretary said that the economy of the country will be modeled in a manner to face the changes taking place in the world. This situation applies to the value of the rupee as well. He expressed belief that the rupee will come to a stable position of 125 rupees shortly.
He further pointed out that the expected economic development this year has been targeted as seven percent in order to maintain the budget deficit at 6.2 percent. It has been possible to bring the inflation to a very low level.
Dr. Jayasundera also said that investments have shown a significant increase and several leading international hotel chains have come forward to invest in hotel projects in Sri Lanka.(niz)
