Saturday, June 6, 2009

Public must be willing to make sacrifices now, for long term benefits later

A senior economist said Sri Lankans will have to make sacrifices now in order to realize greater benefits in the future and the government will have to move away from the political-economic path governments have traversed on for decades.

Dr. Sirimal Abeyratne said the rest of Sri Lanka will need to make a big sacrifice to develop the North and East so that communities can be meaningfully integrated and development of the entire country sustained, considering the government’s fiscal constraints to meet the urgent needs of the once war-torn regions and at the same time stimulate the economy that is now feeling the ill affects of the global financial crisis.

"Why is this necessary? It is good economics. But good economics is not good politics and now is the time government will have to engage the public to make difficult decisions for the sake of the future," said Dr. Abeyratne, Senior Lecturer, Department of Economics, University of Colombo.

"The government has a huge role to play in rehabilitating, reconstructing and integrating the economies and the people of the North and East with the rest of country. The government would have to bear a massive expenditure which cannot be imagined until the communities and private sector are able to stand on their own two feet," he told a seminar yesterday.

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