Economy bounces back to record 5.7% growth, highest in over two years

[janith pasindu]

since im new, to this forum, it does not allow me to post links, just google it and see for yourself... just google and download unstoppable sri lanka 2020 stratergy... do you know what estimates mean??? IMF estimate 2013 gdp less than 67 billion for 2013, CBSL from the begining projected gdp would be 67 bilion for 2014 and so does its achieved. so according to you central bank governer of SL is wrong and estimate from imf is right. do you know the meaning of estimate at least???

 

[Green Arrow]

Good for India. I think the magic of modi seems to be working fine.

 

[sau07]

Read this, Interview with CBSL (Central Bank SL Govenor)
FYI, Current SL GDp (2013) stands at 67.18 Billion USD, and expected to grow 7.8% this year to $77 Billion Mark

The Central Bank of Sri Lanka (CBSL) believes that by end 2016 Sri Lanka’s Gross Domestic Product (GDP) would surpass the USD 100 billion mark.
year.-

Pls check the figure as 7.8% growth from current 67.18 billion will take it to 72.42 billion ,77 billion figure may be a typing error. And to cross 100 billion mark by 2016 Srilanka has to acheive the growth rate of over 15% per annum.

 

[zip]

since im new, to this forum, it does not allow me to post links, just google it and see for yourself... got your mouths shut???

You are telling us with 7.8 % growth your economy gonna touch 77billion from base of 67 ? You need 15% growth for that

 

[janith pasindu]

Pls check the figure as 7.8% growth from current 67.18 billion will take it to 72.42 billion ,77 billion figure may be a typing error. And to cross 100 billion mark by 2016 Srilanka has to acheive the growth rate of over 15% per annum.

That is what exactly im saying for this long, throughout the past 5 years SL GDP has changed 15% per year, 2009...39billion, 2010....49billion, 2011...59billion...2012...59.47....2013...67.18billion, and for 2014 it is expected to rise to 77billion

Pls check the figure as 7.8% growth from current 67.18 billion will take it to 72.42 billion ,77 billion figure may be a typing error. And to cross 100 billion mark by 2016 Srilanka has to acheive the growth rate of over 15% per annum.

Nominal GDP growth at a average rate of 15%YoY

 

[janith pasindu]

Since 2009, SL GDP rising 15% YoY... that is what i mentioned, and that is exact same thing in the unstopable sl 2020 stratergy, CBSL governer made this comments after releasing the second quarter figures for 2014, where economy grew 7.8%, highest in the region. and this year it is expected to economy to grow 7.8%, last year in 2013, SL economy grow by 7.3% and GDP has increased from 59.47 in 2012 to 67.18 in 2013... this year it will mark 77 billion mark,

 

[sau07]

Since 2009, SL GDP rising 15% YoY... that is what i mentioned, and that is exact same thing in the unstopable sl 2020 stratergy, CBSL governer made this comments after releasing the second quarter figures for 2014, where economy grew 7.8%, highest in the region. and this year it is expected to economy to grow 7.8%, last year in 2013, SL economy grow by 7.3% and GDP has increased from 59.47 in 2012 to 67.18 in 2013... this year it will mark 77 billion mark,

I am not able to understand if economy grow by 7.3% how GDP changes from 59.47 in 2012 to 67.18 in 2013

 

[janith pasindu]

I am not able to understand if economy grow by 7.3% how GDP changes from 59.47 in 2012 to 67.18 in 2013

Oh I just understand your Problem. Mate, GDP growth was not calculated just by "calculating 59.47*7.3 or 67.18*7.8 and adding the result to GDP" it is far more complex than that. SL GDP and GDP Per Capita has increased between 14%YoY and 15%YoY, annually and with world bank predicts SL economy to pick up its growth to 8.2 from 2015, SL may able to achieve its predicted targets earlier than previously thought.

Dont mention regional sources even if it from Governer. If you have an article from IMF or World Bank then do post it,rest simply dont count. And still it fails to explain how did you get projction figure from 2016-19 ,the Governer himself hasn't mentioned it.
IMF estimates SL gdp at $111bill in nominal by '19, so its either your governer who's incorrect or the IMF ! Go through ghis link and check for yourself SL gdp projection by IMF, 2014-19.

If you thinking governor of Central Bank and the other Economical experts of SL who is involving directly on Sri Lankan Economy and the people who really knows the trends of SL economy, knows less than what WB and IMF estimates, I have no words.
Mate first understand the word "Estimate"

 

[Lil Mathew]

I am not able to understand if economy grow by 7.3% how GDP changes from 59.47 in 2012 to 67.18 in 2013

Growth of an economy always expressed in percentage of real gdp growth.. Here this 7.3% is not nominal gdp growth but it is real gdp growth.. Nominal gdp increase may be high due to inflation..
IMF datas are considered to be accurate.. Here is the link for all parameters of srilanka and India..
Report for Selected Countries and Subjects

 

[janith pasindu]

Ag

Growth of an economy always expressed in percentage of real gdp growth.. Here this 7.3% is not nominal gdp growth but it is real gdp growth.. Nominal gdp increase may be high due to inflation..
IMF datas are considered to be accurate..

again those are estimates only...
in IMF Estimate SL GDP for 2013 mentioned as $65Billion, but actually SL achieved $67.18 Billion GDP and expected to grow 7.8% this year to reach $77 Billion. what IMF stated figures are not correct, reminder those are just estimates... simply do basic calculation.., 67.18*15 = 10 (67+10 = 77)

FYI Sri Lanka inflation rate currently stands at 3.5% and SL manage to maintain inflation at a single digit less than 6% for past 5 years.

And SL to reach from Current GDP Per Capita income from $3279 of 2013 to $3800+ and to reach Upper Middle Income Country Status by 2015. after all GDP Per Capita is what matters the most to identify country whether it's lower income, Middle or high income country

 

[ravinderpalrulez]

Check IMF statistics October 2014 out , India became 2 trillion dollar economy-2.047 trillion dollar exactly

 

[janith pasindu]

Check IMF statistics October 2014 out , India became 2 trillion dollar economy-2.047 trillion dollar exactly

What would be the GDP Per Capita for India from current $1498 (2013) ??

 

[Nova2]

Since 2009, SL GDP rising 15% YoY...

stop exaggrating figures dude ,SL economy hasnt grown by 15% at an avg since '09 or even on year on year basis,those 15% figure include inflation ,depriciatio or apriciation of the curency and many other stuffs.

and this graph is not estimation.the highest the sl economy grew was in 2010 @10% and lowest ws in 1Q of 2009 @1.5%. Your post show you dont know much abt economy,pls be real.

 

[janith pasindu]

stop exaggrating figures dude ,SL economy hasnt grown by 15% at an avg since '09 or even on year on year basis,those 15% figure include inflation ,depriciatio or apriciation of the curency and many other stuffs.
View attachment 118118
and this graph is not estimation.the highest the sl economy grew was in 2010 @10% and lowest ws in 1Q of 2009 @1.5%. Your post show you dont know much abt economy,pls be real.

Wow, thanks for showing me that impressive GDP Growth Rates of SL, Which is highest in the South Asian Region and the Highest in whole Asia after China..

Those are "ANNUAL GDP GROWTH RATES", what I am talking about Nominal GDP, if you can't figure out the differences, what should I do?? Based on the 15% YoY, SL Nominal GDP will increase from 67 of current 77 of 2014 that is what I am saying.

FYI Sri Lanka inflation rate currently stands at 3.5% and SL manage to maintain inflation at a single digit less than 6% for past 5 years.

What I'm mentioning here is the data from CBSL (Central Bank of Sri Lanka), and their estimates

 

[ravinderpalrulez]

What would be the GDP Per Capita for India from current $1498 (2013) ??[/quote
Current per capita is $1625.641