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NEC discusses Rupee depreciation

NEC discusses Rupee depreciation

President Maithripala Sirisena chaired the National Economic Council (NEC) yesterday, to discuss the current status of the country’s economy. Prime Minister Ranil Wickremesinghe, Ministers Mangala Samaraweera and Mahinda Samarasinghe, State Ministers Dr.

The National Economic Council (NEC) headed by President Maithripala Sirisena, met yesterday to discuss the current status of the country’s economy.

Special attention of the Council was drawn to the measures taken by the Central Bank to defend the Rupee. It also discussed the ways and means to improve the country’s exports and prevent depreciation of the Rupee. The country’s tax policy was also discussed.

Experts and intellectuals in the state and private sectors including the Vice Chancellors of the State Universities, expressed their opinions and proposals to the NEC during the meeting. The representatives of the Central Bank, Sri Lanka Investment Board, Sri Lanka Export Development Board and state and private banks also attended the meeting.

The CB explained that the causes of depreciation of the Rupee are mainly external and that many countries including India, Pakistan, Malaysia and Indonesia have faced similar pressures.

Prime Minister Ranil Wickremesinghe, Ministers Mangala Samaraweera and Mahinda Samarasinghe, State Ministers Dr Harsha de Silva and Eran Wickremaratne, Secretary to the President Udaya R Seneviratne and Central Bank Governor Dr. Indrajith Coomaraswamy attended the meeting.

(Daily News)

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