Deputy Finance Minister Dr. Sarath Amunugama yesterday told Parliament that the country had continuously maintained a four per cent economic growth under severe difficulties caused by global recession though some other countries recorded zero percent growth in 2009.

This was due excellent financial management policies, he said.

"We are in a position to target a six percent growth in the coming year. We can name 2010 as the year of economic development. Ours is a nation whose economy had been severely affected by war. Now, that the war is over, we are on a fast track of development.

He also appreciated the IMF loan facility of US$ 2.6 billion. He said that there would be a tremendous expansion in all sectors as both the public and private sector could focus on development in the absence of war.

He said that the inflation had been brought under control. The recent decision to slash interest rates too, was taken in consideration of the rapidly improving situation.