3. National Policy on Economic Transformation

Official English translation. The Sinhala text prevails. Open the official Sinhala text, official PDF on documents.gov.lk

(1)

The National Policy on Economic Transformation shall provide for–

(a)

the restructuring of the debt owed by the

Government, that the-

(i)

Public Debt to Gross Domestic Production ratio shall be below ninety-five per centum by the year 2032 and thereafter;

(ii)

Central Government Annual Gross Financing

Needs to Gross Domestic Production ratio shall be below thirteen per centum by the year 2032 and thereafter; and

(iii)

Central Government Annual Debt Service in

Foreign Currency to Gross Domestic

Production ratio shall be below four decimal half per centum by the year 2027 and thereafter; and

(b)

the transformation of Sri Lanka to a highly competitive, export-oriented, digital economy including-

(i)

diversification and deep structural changes of the national economy to boost competitiveness;

(ii)

achieving Net Zero by the year 2050;

(iii)

increasing integration with the global economy;

(iv)

achieving stable macroeconomic balances and sustainable debt;

(v)

modernize agriculture to boost farmer productivity, farmer incomes, and agriculture exports; and

(vi)

promote inclusive economic growth and social progress.

(2)

For the purpose of this section, “Net zero” means the balance between the amount of greenhouse gas that is produced in Sri Lanka and the amount that is removed from the atmosphere.

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Part II

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Part III

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Part IV

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Part V

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Part VI

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Part VII

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