Lanka records highest ever growth rate:

http://www.dailynews.lk/2010/09/18/news03.asp

Lanka records highest ever growth rate:
We are winning economic war - Basil
Economic Development Minister Basil Rajapaksa commenting on Sri Lanka recording a growth of 8.5 percent during the second quarter of 2010, said this signifies that the country’s economy is growing at a very rapid pace. This is the highest ever quarterly growth recorded since the Central Bank and Department of Census and Statistics began estimating quarterly growth rates.
Minister Rajapaksa
“This achievement is due to the efforts and policies taken by President Mahinda Rajapaksa’s Government. We are now winning the economic war,” Minister Rajapaksa said. The three major sectors of the economy – agriculture, industry and services recorded increased growth rates during the second quarter of 2010, which resulted in the record growth rate of 8.5 percent GDP.
“With the North and East producing at full capacity and these regions being integrated into the economic main stream has been a great achievement. With tourism booming and tourist arrivals reaching record numbers, this year has resulted in increased economic growth in the Agriculture sector all paddy lands are being cultivated including the North and East.
Therefore this year will signify further economic growth,” Minister Rajapaksa said. With the end of the war the economic environment in Sri Lanka is stable and in 2010 bank-lending rates decreased further which in turn encouraged greater investor confidence and investment. The Government fulfilling its promises has ventured into massive infrastructure projects including roads, power generation, ports and airports thus taking the country towards achieving the vision of becoming the Wonder of Asia, the Minister said.
Considering the global economic environment where economies of scale in the developed countries are yet to recover from the global recession.
Sri Lanka’s achievement in recording 8.5 percent growth during the second quarter of 2010 is showing the world that Sri Lanka is progressing forward, he said.
“Our per capita income has reached over US$2,000 taking Sri Lanka to a middle-income economy.
President Rajapaksa’s aim is that we should reach US$ 4,000 per capital income range for that the economy must grow over eight percent with our achievement in the second quarter of 2010, reaching USD 4,000 per capita is not far away,” Minister Rajapaksa said.