Increase of Sri Lanka’s per capita income faster than expected

[Skyline]

Sri Lanka will able to achieve its target of a per capita income of USD 4,000 by 2016 faster than planned and that the planned target could be increased to USD 5,000, says the Finance Ministry secretary.

Finance Ministry Secretary Dr. P.B. Jayasundera revealed this while addressing a ceremony to release the Central Bank’s 2013 Annual Report at the Central Bank of Sri Lanka (CBSL) auditorium.

According to the CBSL report, Sri Lanka’s per capita income has increased USD 3,280 in 2013 while it had been USD 2,922 in 2012.

During the event, Dr. P.B. Jayasundera further added that in 2014 Sri Lanka’s per capita income would rise to around USD 3,800 and to around USD 4,400 by next year.

He expressed his belief that by 2016 Sri Lanka could increase its per capita income to a target of around USD 5,000.

Sri Lanka had earlier planned to increase the per capita income to USD 4,000 by 2016.

The CBSL Annual Report was ceremoniously handed over by Gevernor Ajith Nivard Cabraal to President Mahinda Rajapaksa this morning at the Central Bank auditorium in Colombo.

http://www.adaderana.lk/bizenglish/...come-faster-than-expected-treasury-secretary/

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so Sri Lanka is an "Upper Middle Income" country next year....

 

[dawn_news]

Congrats! Pakistan will reach $1600 this june, maybe $2000 in couple of years. Sri Lanka have left many others behind.

 

[janon]

Very impressive.

What is the reason though, how was it achieved?

 

[Skyline]

Congrats! Pakistan will reach $1600 this june, maybe $2000 in couple of years. Sri Lanka have left many others behind.

congratz!

Pakistan is no longer a South Asian country? IMF data reports include Pakistan & Afghanistan with middle east countries, what's the reason behind it?

 

[BDforever]

Sri Lanka will able to achieve its target of a per capita income of USD 4,000 by 2016 faster than planned and that the planned target could be increased to USD 5,000, says the Finance Ministry secretary.

Finance Ministry Secretary Dr. P.B. Jayasundera revealed this while addressing a ceremony to release the Central Bank’s 2013 Annual Report at the Central Bank of Sri Lanka (CBSL) auditorium.

According to the CBSL report, Sri Lanka’s per capita income has increased USD 3,280 in 2013 while it had been USD 2,922 in 2012.

During the event, Dr. P.B. Jayasundera further added that in 2014 Sri Lanka’s per capita income would rise to around USD 3,800 and to around USD 4,400 by next year.

He expressed his belief that by 2016 Sri Lanka could increase its per capita income to a target of around USD 5,000.

Sri Lanka had earlier planned to increase the per capita income to USD 4,000 by 2016.

The CBSL Annual Report was ceremoniously handed over by Gevernor Ajith Nivard Cabraal to President Mahinda Rajapaksa this morning at the Central Bank auditorium in Colombo.

http://www.adaderana.lk/bizenglish/...come-faster-than-expected-treasury-secretary/

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so Sri Lanka is an "Upper Middle Income" country next year....

 

[Skyline]

IMF estimates....

 

[Armstrong]

Wow good job - Keep up the good work !

 

[Saradiel]

Sri Lanka will able to achieve its target of a per capita income of USD 4,000 by 2016 faster than planned and that the planned target could be increased to USD 5,000, says the Finance Ministry secretary.

Finance Ministry Secretary Dr. P.B. Jayasundera revealed this while addressing a ceremony to release the Central Bank’s 2013 Annual Report at the Central Bank of Sri Lanka (CBSL) auditorium.

According to the CBSL report, Sri Lanka’s per capita income has increased USD 3,280 in 2013 while it had been USD 2,922 in 2012.

During the event, Dr. P.B. Jayasundera further added that in 2014 Sri Lanka’s per capita income would rise to around USD 3,800 and to around USD 4,400 by next year.

He expressed his belief that by 2016 Sri Lanka could increase its per capita income to a target of around USD 5,000.

Sri Lanka had earlier planned to increase the per capita income to USD 4,000 by 2016.

The CBSL Annual Report was ceremoniously handed over by Gevernor Ajith Nivard Cabraal to President Mahinda Rajapaksa this morning at the Central Bank auditorium in Colombo.

http://www.adaderana.lk/bizenglish/...come-faster-than-expected-treasury-secretary/

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so Sri Lanka is an "Upper Middle Income" country next year....

Anyone who takes PBs and finance ministers's claims seriously in SL is a number 1 retard.

 

[Skyline]

Anyone who takes PBs and finance ministers's claims seriously in SL is a number 1 retard.

haha..before posting this news article I have checked the IMF estimates...

 

[Saradiel]

haha..before posting this news article I have checked the IMF estimates...

Estimates doesnt really tell the true story. SL hasnt really started a single new industry but rely on past industries and a volatile tourism boom.
The calculations of central bank are can be wrong. They deliberately do that to fool ones like you. And GDP per capita is not a good parameter to judge a countr's development. It must be used with other parameters

 

[Skyline]

Estimates doesnt really tell the true story. SL hasnt really started a single new industry but rely on past industries and a volatile tourism boom.
The calculations of central bank are can be wrong. They deliberately do that to fool ones like you. And GDP per capita is not a good parameter to judge a countr's development. It must be used with other parameters

yep, GDP per capita is not a good parameter to get idea for development of a country. But those international institutions use that parameter to categories countries, according to that we will gain upper middle income status next year. I don't see any huge difference between stats of IMF estimates and central banks actual data for previous years.

 

[punit]

Sri Lanka will able to achieve its target of a per capita income of USD 4,000 by 2016 faster than planned and that the planned target could be increased to USD 5,000, says the Finance Ministry secretary.

Finance Ministry Secretary Dr. P.B. Jayasundera revealed this while addressing a ceremony to release the Central Bank’s 2013 Annual Report at the Central Bank of Sri Lanka (CBSL) auditorium.

According to the CBSL report, Sri Lanka’s per capita income has increased USD 3,280 in 2013 while it had been USD 2,922 in 2012.

During the event, Dr. P.B. Jayasundera further added that in 2014 Sri Lanka’s per capita income would rise to around USD 3,800 and to around USD 4,400 by next year.

He expressed his belief that by 2016 Sri Lanka could increase its per capita income to a target of around USD 5,000.

Sri Lanka had earlier planned to increase the per capita income to USD 4,000 by 2016.

The CBSL Annual Report was ceremoniously handed over by Gevernor Ajith Nivard Cabraal to President Mahinda Rajapaksa this morning at the Central Bank auditorium in Colombo.

http://www.adaderana.lk/bizenglish/...come-faster-than-expected-treasury-secretary/




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so Sri Lanka is an "Upper Middle Income" country next year....

we must learn from Srilanka ! even during disastrous civil war .. their economic performance was better than us and still is.

On a lighter note : (Sri) Lanka was most prosperous on earth even in ancient times ( Sone ki lanka)

 

[Saradiel]

yep, GDP per capita is not a good parameter to get idea for development of a country. But those international institutions use that parameter to categories countries, according to that we will gain upper middle income status next year. I don't see any huge difference between stats of IMF estimates and central banks actual data for previous years.

That is because most data are miscalculated so dont give the actual picture. But i agree GDP per capita might be rising, but that is due to other reasons than well planned economic growth.

 

[NGV-H]

Sri Lanka will able to achieve its target of a per capita income of USD 4,000 by 2016 faster than planned and that the planned target could be increased to USD 5,000, says the Finance Ministry secretary.

Finance Ministry Secretary Dr. P.B. Jayasundera revealed this while addressing a ceremony to release the Central Bank’s 2013 Annual Report at the Central Bank of Sri Lanka (CBSL) auditorium.

According to the CBSL report, Sri Lanka’s per capita income has increased USD 3,280 in 2013 while it had been USD 2,922 in 2012.

During the event, Dr. P.B. Jayasundera further added that in 2014 Sri Lanka’s per capita income would rise to around USD 3,800 and to around USD 4,400 by next year.

He expressed his belief that by 2016 Sri Lanka could increase its per capita income to a target of around USD 5,000.

Sri Lanka had earlier planned to increase the per capita income to USD 4,000 by 2016.

The CBSL Annual Report was ceremoniously handed over by Gevernor Ajith Nivard Cabraal to President Mahinda Rajapaksa this morning at the Central Bank auditorium in Colombo.

http://www.adaderana.lk/bizenglish/...come-faster-than-expected-treasury-secretary/

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so Sri Lanka is an "Upper Middle Income" country next year....

It's a rare moment anywhere in the world when a country's government underestimates a target!

 

[jarves]

Congratulations.