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'.