WHAT IS NEEDED TO SRI LANKA?
Posted on November 21st, 2019

BY EDWARD THEOPHILUS

Two years ago, people knew that yahapalanaya was failed and it was the most corrupt regime ever came to power in the country. In my writing indicated that Mr. Gotabaya Rajapaksa will be the right person to lead the country and he will win with the support of Sinhala people, who represent about 78% of the total population.  The results of the presidential election in 2019 indicated that Sinhala people are still divided and the next general election must focus to unite all Sinhala people and to obtain more than 75% of the power of the parliament. The foreign influences have been working against the unity of Sinhala people and Mr. Gotabaya Rajapaksa clearly stated that he could have won with the support of Sinhala people but he appealed to Tamil and Muslim people to join with him. However, Tamil and Muslim people attempted to divide the power of Sinhala people, but the effort was unsuccessful. 

The major responsibility of the new president is changing the current political, economic, social and cultural environment.  To change the environment, Mr. President and his government must focus on the economy first and the national unity through a cultural design to the country. Sri Lanka’s economy has stuck with macroeconomic and microeconomic problems. Major macroeconomic problems associated with mainly fiscal issues, which are budget deficit with higher spending.  Loss-making public enterprises, unproductive provincial councils created by the 13th amendment to the constitution are major casual factors for increasing government spending and the government needs taking effective actions to control and limit government spending. If government can balance or can get an excess budget it will positively impact on the value of Sri Lanka’s rupee. Debt service also a serious problem within the current status of the economy, however, it could be easily controlled if the economic growth lifts to at least 6% within two years and then increase to 8% by an increase in production especially agricultural area and encouragement of quality import substitutions. The productivity of employees is lower and increasing productivity and improvement of the quality of service in public and private sectors are vital issues need to be focused.

The other significant macroeconomic problem is depreciating the foreign value of Sri Lanka rupee.  The major strategy for this issue should be to increase foreign reserves to the US $ 25 billion in the country by export development, tourism promotion and encouraging foreign employees to remit money to the country without sending to developed countries. To increase foreign reserves, it is important to consider the strategies used by Taiwan and South Korea. China can help more to increase foreign reserves.  Immediately Sri Lanka can negotiate with China to exchange the US $ 50 billion worth of Sri Lanka rupees to Yuan or US dollars to increase reserves to gradually settle this agreement.  In this way, Sri Lanka can increase the foreign value of Sri Lanka rupee. If these mentioned macroeconomic problems quickly consider, other problems such as unemployment would be automatically solved as it is linked with major problems.

Micro Economic problems are related to mismanagement of public enterprises and government departments.  Microeconomic problems are associated with productivity and the government needs taking effective steps to retraining staff and many human resource management related issues.  Economic issues could easily tackle in the country and attract public support.

Social and cultural changes related to creating a cultural design in the country.  This idea expressed by people saying one country one law.  Abolition of personal laws introducing anti-discrimination laws is the way for a cultural design and such actions would lead to the national integration of all races and communities and it would be a successful reconciliation.   

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