Refuting the claims made by Opposition Leader Ranil Wickremesinghe that the government has cut down spending o freen education according to IMF directives, The International Monetary Fund yesterday said that they have not prescribed any such measure at any point to the present government. 

The IMF said Sri Lanka's economic growth exceeded expectations last year, and forecast that the country's economy would grow by around 7 per cent in 2014.

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"Real GDP growth reached 7.3 per cent, inflation declined to below 5 per cent," Todd Schneider, the head of the IMF staff mission who ended a 10-day visit to the country, said.

"Near term outlook appears positive, aided by a recovery in advanced economies. The IMF projects real growth to continue at around 7 per cent and inflation to remain close to current rates in 2014," Schneider said.

Commenting further Schneider said short term risks in the Sri Lankan economy appear moderate and are most closely linked to the recent drought and the impact of a weak monsoon on growth and the balance of payments.