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Ranil says hopeful of strong economy

Sri Lanka's prime minister Ranil Wickremesinghe said he was hopeful of a strong economy after what he described as 'three difficult years'. 

"There was a mountain of debt when the government came into power, but, the government has been able to stabilise the economy and the people, who had to undergo many hardships during these three years will benefit from a strong economy," he was quoted by Colombo Page as saying at an event in Colombo today. 

His comments come despite concerns expressed internationally over Sri Lanka's heavy debt burden and falling share prices. 

Last month shares in Sri Lanka fell for the fourth straight season as foreign investors continued to sell blue chip stocks. Moody's Investors Service also in July affirmed the negative outlook on the country's credit profile citing refinancing risks.