Sri Lanka aims to surpass US $ 7,000 per capita income by 2020

[Gibbs]

They have already begun the show for the election.
President is trying to get away from his promise to abolish the executive presidency by saying 'Abolishing Executive Presidency in Sri Lanka will not solve problems'.
How greedy are they for the power and money?

I'm not trying to sugercoat the opposition but people have forgotten that this is the same guy that went to Geneva in the 80's to campaign to the Europeans against the then UNP govt of human rights violations and abuse of executive power.. And now accusing anybody who is against his regime as traitors and uses the same executive powers to suppress dissent

 

[DarkSeid]

I disagree. Infra projects are good even if they dont appear valuable right now. They will gain importance slowly as your economy grows.
And generally the infra pays for itself in a couple of decades.
On the dictator part, you would judge better than I. But on the economic front, I see Lanka is not doing anything wrong.

The weakness is the incompetency of strategic decision making and put it into action.

 

[Saradiel]

And Jayasundera is a convicted felon.. Accused of corruption amounting to billions.. Plus remember local and presidential elections are around the corner.. Could well be for public consumption

Actually jayasundara is a lesser criminal.
He has threatened the govern that if possible, sack him. He has already said without him SLG cannot manage finances and gover will go down in 6 months. He has said due to useless mega wastages it is diffcult to run the economy.

basically from the improvement of service sector.

Sri Lanka Overview

I am involved in service sector. there is no new industry in service sector. And service sectir cannot alone build a country. SL is not a singapore. There is a huge rural population and a war torn region.
The only sector that has grown is IT sector that is because of an innovative and good private sector.

Most of the time SL economy is sustained by private sector. SL has one of the most useless, corrupt, wasting governments but we have an excellent private sector

At the moment, we can't satisfied with their approach. Government's economic strategy towards the future is not clear. Cabraal was a defeated unp politician before.

The problem is gover has no strategy at all. The ones who are manning our economic policies are OL failed fellows like BR.

The weakness is the incompetency of strategic decision making and put it into action.

yes but at large our decision makers lack even common sense.

example: mattala

 

[DarkSeid]

I am involved in service sector. there is no new industry in service sector. And service sectir cannot alone build a country. SL is not a singapore. There is a huge rural population and a war torn region.
The only sector that has grown is IT sector that is because of an innovative and good private sector.
Most of the time SL economy is sustained by private sector. SL has one of the most useless, corrupt, wasting governments but we have an excellent private sector

Even though, there were no new additions to the sector but improvements added to already existing services could be the reason for a higher figure (Transport, urban & rural development, health, foreign exchange, etc). According to 2013 annual report, service sector has contributed nearly 60% to the GDP.
Actually on the other hand, it is not right to accept this at all as the significant higher growth rate may be just a whitewash by CBSL.

 

[Armstrong]

Good going my Sri Lankan brethren !

 

[DarkSeid]

Good going my Sri Lankan brethren !

You are late mate, I don't know where the party has gone.

 

[Gibbs]

Actually jayasundara is a lesser criminal.
He has threatened the govern that if possible, sack him. He has already said without him SLG cannot manage finances and gover will go down in 6 months. He has said due to useless mega wastages it is diffcult to run the economy.

Wasnt aware of that.. But he was involved in the biggest VAT scam in history.. How such a person is holding the economy of the country is beyond me

Good going my Sri Lankan brethren !

Morning mate.. Is'nt it quite late for your morning coffee ?

 

[Armstrong]

Morning mate.. Is'nt it quite late for your morning coffee ?

Yeah about 6 in the evening late !

 

[Gibbs]

Yeah about 6 in the evening late !

Actually i misread it.. Damn scotch i tell ya..

 

[Echo_419]

Sri Lanka : Sri Lanka aims to surpass US $ 7,000 per capita income by 2020

Aug 06, Colombo: Sri Lanka is striving by 2020 to surpass US$ 7,000 per capita income and reach a US$ 150 billion GDP, the Governor of Central Bank Ajith Nivard Cabral said.

Addressing the 14th Economic Summit organized by Ceylon Chamber of Commerce at Cinnamon Grand yesterday, Cabral said currently the GDP is at US$ 77 billion and could easily reach the target of US$ 150 billion by 2020.

He noted that according to the Central Bank annual report, Sri Lanka's per capita income has increased from US$ 2,922 in 2012 to US$ 3,280 in 2013. It is projected to reach US$ 4,240 by the end of 2015 and up to US$ 7,000 by 2020.

He said that by 2020, the poverty would be reduced to one percent and several other economic indicators and international rankings for Sri Lanka too will improve and the country will definitely be ranked among the top 20 in the Doing Business Index.

Sri Lanka Economic Summit 2014 will be held on the 5th and 6th August, 2014 at the Cinnamon Grand Hotel, Colombo, under the title of "Sri Lanka 2020: Towards the $7000 Per Capita".

This year's Economic Summit held for the 14th consecutive year since its inauguration in the year 2000, will hold six important sessions, covering a multiple of economic sectors of the country.

Speaking at the forum Suresh Shah, Chairman of the Ceylon Chamber of Commerce (CCC) said that Sri Lanka must strive for more inclusive growth.

He said the businesses would benefit more with a broad group of consumers earning a reasonable income rather than with a small group of very high net worth individuals.

Treasury Secretary Dr. P.B Jayasundera delivered the key note address at the summit.

Among the speakers delivering keynote speeches are Head of HSBC India Naina Lal Kidwai, Senior Partner and Managing Director in the Mumbai office of The Boston Consulting Group Alpesh Shah, Managing Director, Landor Associates of Mumbai Office Lulu Raghavan, and Managing Director of Hayleys Agriculture Holdings Rizvi Zaheed.

Opposition Leader Ranil Wickremasinghe will also deliver a speech on the topic 'Education � Critical Driver of Competitive Advantage'.

Good going SL