High Commission of Sri Lanka in India

Economic growth 8% in 2010 - Central Bank PDF Print option in slimbox / lytebox? (info) E-mail
Wednesday, 15 December 2010 12:35

An estimated 8 percent economic growth was achieved in 2010, the Central Bank said in its ‘Roadmap: Economic and Financial Sector Policies for 2011 and Beyond’, announced on January 4, 2011.

The Roadmap also said that Sri Lanka was able to maintain historically high foreign reserves amounting to USD 6.6 Billion at the end of 2010. Year 2010 also marked a rapid decline in poverty level in the country, low and stable inflation, stable exchange rates, Middle-income Emerging Market Country status among other achievements.

The Central Bank added that Sri Lanka showed strong growth momentum in 2010 as the peace dividend was clearly observed with impressive performance in all sectors and more business confidence.

Sri Lanka has met end-December IMF targets for net domestic financing, net international reserves, and reserve money required under a $2.6 billion loan, Central Bank Governor Ajith Nivard Cabraal said.

Asia Development Outlook 2010 of the Asian Development Bank also said Sri Lanka's political stability, improved credit ratings, private sector revival and government infrastructure investment underpin a strengthened economy.

During her visit to Sri Lanka in December, Managing Director of the World Bank Dr. Okonjie-Iweala said “Sri Lanka has what it takes to be the Wonder of Asia through inclusive growth acceleration… implementing policies that promote the inclusion of all segments of society in the growth process, as envisaged in the Mahinda Chintana, will be crucial”.