Mr Rajapakse and the UPFA are left-leaning and mistrustful of privatisation, but the government has declared that improving the business environment will be a priority in 2011-15. It implemented a well-received pro-business budget in 2010, simplifying and reducing taxes and bureaucracy surrounding investment. However, the risk that policies could be modified or even reversed remains high, and the government has a strong tendency to interfere at the microeconomic level. Sri Lanka's surging trade deficit indicates that, despite plentiful foreign-exchange reserves at present, another balance-of-payments crisis before 2015 cannot be ruled out. Much will depend on whether the necessary inflows of foreign investment can be attracted. The government will also need to continue to exercise restraint with regard to public spending if the fiscal deficit is to be successfully addressed. Although there are plans to list stakes in some SOEs, the government will retain control of these firms, limiting the benefits of listing; full-scale privatisation is off the agenda. Two areas that could see new reforms are road and railway policy, in which partnerships with the private sector could be used to boost investment. This would support Mr Rajapakse's main priorities-namely, rural and infrastructure development, especially in the south and north.