The President emphasizes the state banks should directly contribute to build the economy.

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President Gotabaya Rajapaksa has emphasized that the state banks should directly contribute to build the economy that has been collapsed. He said that maintaining strategies for an active economy are a prominent responsibility of the banks. The President said this during a progress review meeting of the Bank of Ceylon at the President’s Office today. The President emphasized the need to maintain the interest rate at one digit in the country to support development. He said that the state banks should give financial assistance to farmers and small and medium scale industrialists. The President pointed out that the economy cannot be built only through traditional methods. He emphasized he would not hesitate to meet the aspirations of the people by the power vested with him by them. Speaking further President Rajapaksa said that it will be done on behalf of the country and he would take necessary steps if the obstacles are placed. The economic growth rate which was between seven and eight percent before 2015, fell to less than two percent in 2019. It has been further affected due to the COVID-19 pandemic that has affected the world economy. Therefore the President said that the state banks should support in implementing government policies for an economic resurgence in the country.

Meanwhile, the President says that the Lotus Tower project should be modernized and handed over to the country as a more productive investment. He has instructed the officials to brief local and foreign businessmen on investments related to the project. The President gave the instructions during a discussion today with the officials of the Sri Lanka Telecommunication Regulatory Commission and the Lotus Tower.

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