Monday, 24 June 2013 00:00
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“Managing Fiscal Deficit”, the first session of the Sri Lanka Economic Summit (SLES), will review Sri Lanka’s current position, future plans and the fiscal management strategies of other developing countries to ascertain what lessons could be drawn for Sri Lanka. Sri Lanka’s fiscal deficit has been reduced from around 8% of GDP in the last decade to 6%-7% in the last two years. This has been achieved by reduction of the recurrent expenses, but a concurrent fall in Government revenue is of concern. The fiscal deficit also leads to escalation of the public debt. The deficit needs to be curtailed using a combination of revenue raising measures and expenditure management and controls.
Secretary, Ministry of Finance and Planning Dr. P.B. Jayasundera, will be delivering the keynote speech in this session. The speech will be followed by a presentation on ‘Fiscal Management, Lessons from Emerging Economies‘, by International Monetary Fund Resident Representative to Sri Lanka and Maldives, Dr. Koshy Mathai. Dr. Mathai took up his posting in Colombo in 2009, before which he was based in Washington, where he worked in a range of countries including the US, Turkey and Zambia. He has been in the IMF for 13 years. He completed his Bachelors degree at Harvard and his PhD at Stanford, both in Economics.
Aitken Spence PLC Director Rajan Britto and Ernst & Young Partner and Head of Tax Services Duminda Hulangamura will be joining the panel discussion thereafter. The panel discussion will be moderated by top economist Dr. Indrajit Koomaraswamy.
SLES, the flagship event of the Ceylon Chamber of Commerce, will be held on 9, 10 and 11 July at Cinnamon Grand, Colombo. The summit is the ultimate platform to gain a comprehensive understanding of the county’s economy, the investment climate and the diverse opportunities available for investors and businessmen.
For more information and registration on the Sri Lanka Economic Summit, visit - www.chamber.lk - or contact the Ceylon Chamber of Commerce on 0115588805 or via - [email protected].
