He made this comment while addressing a gathering of trade unionists and government employees at the Sugathadasa Stadium recently.

We reduced the inflation rate while interest rates were cut down, and the per-capita income has been increased to US dollars 2000 due to newly introduced economic policies, quoting the CB Governor, the Island reported.

He further said the Government had maintained a strong economy even during a war the last three years, but now the economy would go from strength to strength in the post war period.

Cabraal said all those factors would help to overcome a possible loss of GSP+.

Sri Lanka received the GSP+ trade concession from EU in 2005 after the Tsunami disaster on December 26, 2004.