SL to be the fastest growing country in South Asia - WB

[Gibbs]

SL to be the fastest growing country in South Asia

Sri Lanka is expected to post the strongest economic growth in South Asia in 2014, hitting 7.2%, according to a World Bank’s latest report on Thursday.

According to the report, Sri Lanka’s annual growth is forecast to remain broadly stable at 7.2% in 2014, and to moderate to about 6.9% in 2015 and 6.7% in 2016, higher than estimates of medium-term potential growth for the country.

The estimates are behind the Central Bank’s projection of a 7.8% growth in 2014 and an 8% growth for 2015 and beyond.

Sri Lanka’s annual growth pace picked up to 7.3% in 2013 from 6.3% in 2012, boosted by services, stronger manufacturing activity, robust agricultural growth and a pickup in domestic demand partly due to the easing of monetary policy.

As demand from the Euro area and the United States improved in 2-H of 2013, exports from Sri Lanka grew rapidly, the World Bank noted.

Despite acceleration in growth, Sri Lanka’s inflation fell from 6.7% in October 2013 to 3.2% in May this year, the report noted. Sri Lanka’s deficit has also fallen in recent years due to tight monetary policies.

With the exception of Nepal and the Maldives, all countries in South Asia are faced with significant revenue shortfalls, the report said.

According to the World Bank, GDP growth in South Asia in 2014 will be at 5.3%, and it will rise to 5.9% in 2015 and 6.3% in 2016.

The report said most of the acceleration was localised in India, supported by a gradual pickup of domestic investment and rising global demand.

India will grow at 5.3% in 2014 and the World Bank projected India’s GDP to grow at 6.3% in 2015 and 2016 and 6.6% for 2016-17.

While credit growth is slowing in South Asia, domestic financial risks remain as non-performing loans (NPLs) remain an ongoing concern, the World Bank report said. Sri Lanka has the second lowest NPLs as a share of total loans in South Asia.

According to the global lender, South Asian countries are vulnerable to political developments in Ukraine and Russia that could result in tighter international Crude Oil supplies, given the reliance of South Asia on imported Crude Oil. (Live Trading News)

 

[Azizam]

Are you sure Dailymirror is a reliable source?

 

[Gibbs]

Are you sure Dailymirror is a reliable source?

Daily mirror maybe the most reliable source in print media in SL, If there is such a thing.. But anyway the news is from Live trading news and the report is by the world bank.. Note the growth predictions are much lower than those put out by the central bank

 

[Azizam]

Daily mirror maybe the most reliable source in print media in SL, If there is such a thing.. But anyway the news is from Live trading news and the report is by the world bank.. Note the growth predictions are much lower than those put out by the central bank

I noted some whining comments from Sri Lankans as usual. I am not a government supporter but these rats are so annoying. Every time they start whining as if the country was any better 10 years ago.

Sri Lanka gets all these positive report from the World Bank and the IMF. These are private banks making money lending to the poor. In reality, AIG is pulling out of Sri Lanka. We the ordinary mass do not see this growth except for the roads, parks and ports built on high interest loans.

Tax the ordinary masses from medicine to school books and satisfy the world bank, IMF etc. Figures by these bodies are good for the govt where as human right s figure are international conspiracies.

 

[NKVD]

SL to be the fastest growing country in South Asia

Sri Lanka is expected to post the strongest economic growth in South Asia in 2014, hitting 7.2%, according to a World Bank’s latest report on Thursday.

According to the report, Sri Lanka’s annual growth is forecast to remain broadly stable at 7.2% in 2014, and to moderate to about 6.9% in 2015 and 6.7% in 2016, higher than estimates of medium-term potential growth for the country.

The estimates are behind the Central Bank’s projection of a 7.8% growth in 2014 and an 8% growth for 2015 and beyond.

Sri Lanka’s annual growth pace picked up to 7.3% in 2013 from 6.3% in 2012, boosted by services, stronger manufacturing activity, robust agricultural growth and a pickup in domestic demand partly due to the easing of monetary policy.

As demand from the Euro area and the United States improved in 2-H of 2013, exports from Sri Lanka grew rapidly, the World Bank noted.

Despite acceleration in growth, Sri Lanka’s inflation fell from 6.7% in October 2013 to 3.2% in May this year, the report noted. Sri Lanka’s deficit has also fallen in recent years due to tight monetary policies.

With the exception of Nepal and the Maldives, all countries in South Asia are faced with significant revenue shortfalls, the report said.

According to the World Bank, GDP growth in South Asia in 2014 will be at 5.3%, and it will rise to 5.9% in 2015 and 6.3% in 2016.

The report said most of the acceleration was localised in India, supported by a gradual pickup of domestic investment and rising global demand.

India will grow at 5.3% in 2014 and the World Bank projected India’s GDP to grow at 6.3% in 2015 and 2016 and 6.6% for 2016-17.

While credit growth is slowing in South Asia, domestic financial risks remain as non-performing loans (NPLs) remain an ongoing concern, the World Bank report said. Sri Lanka has the second lowest NPLs as a share of total loans in South Asia.

According to the global lender, South Asian countries are vulnerable to political developments in Ukraine and Russia that could result in tighter international Crude Oil supplies, given the reliance of South Asia on imported Crude Oil. (Live Trading News)

Its not easy to estimate Growth of a country Specially developing countries