Lankapage Logo CP 19 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Sri Lanka has become more prosperous last year, Central Bank reports
Sat, Nov 17, 2018, 08:31 am SL Time, ColomboPage News Desk, Sri Lanka.

Nov 17, Colombo: Sri Lanka has become more prosperous over the last year, according to an indicator introduced by the Central Bank of Sri Lanka to measure the level of prosperity of the country.

The index comprises of three sub-indices, Economy and Business Climate, Wellbeing of the People and Socio-Economic Infrastructure.

The Central Bank said yesterday that Sri Lanka Prosperity Index (SLPI), increased to 0.771 in 2017 from 0.661 recorded in 2016, mainly due to improvements in 'Economy and Business Climate' and 'Socio-Economic Infrastructure' sub-indices.

It said Economy and Business Climate sub-index has improved during 2017, due to increase in per capita Gross Domestic Product (GDP) and enhancements of the aspects associated with employment.

With regard to the sub-index of Socio-Economic Infrastructure, improvements to the road network with the extensions to the expressways, construction of bridges and flyover projects, availability of electricity facilities and improvements in pipe borne water quality were the key drivers.

"Even though 'Well-being of the People' sub-index has declined during 2017 mainly due to the reduced levels of purity of environment and air quality, improvements were recorded in the aspects of availability of healthcare facilities, availability and quality of education, wealth of people and their engagement in entertainment activities," the Central Bank report added.

When prosperity of the provinces is considered, the Western province remained at the leading position recording the highest value of 1.279, for the overall prosperity index, with an increase of 0.076 index points compared to 2016.

Provincial Prosperity Indices, compiled to measure the level of prosperity across provinces, increased in North Western, Sabaragamuwa, Southern and Western provinces.

Meanwhile, enhancements in rankings could be observed in North Western and Sabaragamuwa provinces.

Economic and Business Climate sub-index has improved in five provinces namely, Central, Sabaragamuwa, Southern, Uva and Western mainly due to improvements in per capita GDP, high employment rate and increases in informal sector wages.

Meanwhile, high provincial inflation rates, slight increases in unemployment levels, and decline in industry and banking density have been observed as key drivers for the subdued performance in Eastern, North Central, North Western and Northern provinces

Full report on Prosperity index is available here

 

ColomboPage - Recent 10 Stories ::
Railway unions threaten to launch strike on December 26
-- [6 hours ago]
Sri Lanka's ousted PM challenged in court on his parliamentary membership
-- [7 hours ago]
Sri Lankan Navy accused of chasing away over 3000 Tamil Nadu fishermen from island waters
-- [8 hours ago]
Transparency International Sri Lanka calls on Bribery Commission to act on President's Allegations
-- [9 hours ago]
ComBank Annual Report Best in Banking sector for 14th year
President to open Harvest 2018 agriculture exhibition today
Motion against President's request to rush SC verdict on dissolution of parliament
Abduction case against MP Hirunika Premachandra set for trial in March
Raids on food traders and restaurants during National Food Security Week
SMS alerts to prevent elephant deaths by trains

Copyright © 2000, 2016 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.