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Dubai based Heraymila Investments, who launched their operations in Sri Lanka last week said Sri Lanka’s economic growth can reach 12% in the medium to longer term from the current level of 6%. Speaking at the launch, its Consultant economist Shamubeel Eaqub said “Our bottom-up analysis of the war-affected regions of Sri Lanka, suggests the economy may be 13 percent larger, without accounting for additional multiplier benefits,”
Heraymila’s economic forecast model said a burst of growth for Sri Lanka will initially come from investment in infrastructure, construction and other business activities.
Accordingly the model shows that the long term benefits will emerge from sustained growth in household income and spending; higher export earnings; better economic infrastructure and sustained peace.
Shamubeel Eaqub added “Post war recoveries of countries that had protracted wars are usually impressive, and Sri Lanka is easily poised to sustain double-digit growth from 2011 onwards,”
Heraymila one of the first international stockbrokers to invest in Sri Lanka right after the war manages over 260 million dollars.
“We came to Sri Lanka at the height of the war and have gradually expanded our presence” said Vinod Krishnan, Managing Director Heraymila Investments and Heraymila Securities.
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