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On the economy

Comments to The Island newspaper (see reports on Friday here and here):

"The economy is being driven by the government. The state is a major player in the economy and as a result the country is accumulating debt, mainly from China who are funding major development projects in the face of low foreign direct investment.

"Having economic freedom means that there should be more private sector involvement in development activities."

Dr. Harsha De Silva, economist and opposition MP.

"Our FDI performance has not been all that great, at US$ 413 million for the first six months, and lifting emergency regulations would help but only if governance, transparency and fairness are improved as well, where everyone plays with a straight bat on a level playing field.

"The Central Bank has gone out of its way by trying to improve the ease of doing business, but there is a long way to go."

senior banker, speaking on condition of anonymity.

"Investors only care about the yield curves, exchange rates and political stability and lifting emergency regulations will not have an immediate impact, although one could say it is a part and parcel of political stability.

"Of course in the long run, there would be some boost for FDI inflows and this would be manifest perhaps a year or two from now."

- currency dealer, unnamed.

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