IngentaConnect Sri Lanka: Economy, Politics and Government

Abstract:

In 2001, a ray of hope had appeared that Sri Lanka's protracted 18-year civil war would be scaled down, leading to a negotiated settlement. President Chandrika Kumaratunga's government and the minority Tamil separatist group demanding secession, had finally agreed to allow the Norwegian government to participate as a facilitator in bilateral talks. How the economy fares depends on the progress of the peace process.The government's fiscal objectives are to reduce the budget deficit to 8.5 per cent of GDP and a 25 per cent increase in revenue. These are unlikely to be achieved unless peace negotiations are on the road and a lasting solution is found to the war. As it is, continuing high budget deficits will prove to be Sri Lanka's main problem.

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