Video: Economy grew only 4.5 in '14 - Harsha

9 July 2015 10:08 am - 14     - {{hitsCtrl.values.hits}}

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A new method of computation would be adopted in measuring the economic growth of the country, Deputy Minister of Policy Planning Dr. Harsha De Silva said today.

He said that the actual economic growth (GDP) in 2014 had been 4.5 per cent, while it was 3.4 per cent in 2013.

However, Dr. De Silva said he would not accuse anyone of misleading the public nor would he politicise the matter.

He said the economic growth was reduced according to the new computation method as some informal sectors that had been included had not experienced a significant growth.

“The country will follow the latest methodology used by many countries from now on in computing the economic growth,” he said.

“Sri Lanka has actually updated itself with the changing world with the adoption of this modern and realistic method of computing the economic growth,” he said last morning.

Dr. De Silva said that Cabinet approval had been obtained to move into the new method.

Giving a short description of the new method he said the year 2010 will be taken as the base year according to this method. According to the old method the base year was 2002.

He said a number of informal sectors of the economy would be taken into account when computing the economic growth according to the new method.

He claimed that the actual economic growth (GDP) in 2014 had been 4.5 per cent, and 3.4 per cent in 2013.

However, Dr. De Silva said he would not accuse anyone of lying or misleading the public.

He said the economic growth was reduced according to the new computation method as some informal sectors that had been included had not experienced a significant growth.

“I don’t accuse anyone of lying and do not expect to politicise this issue,” the Deputy Minister therefore said.

He assured that there won’t be any changes in ratings and adjustments of risk profile of Sri Lanka and thereby said Sri Lanka would be able to obtain credit on concessionary interest rates. (Yohan Perera, Chaturanga Pradeep)

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  Comments - 14

  • Mojo Thursday, 09 July 2015 04:51 PM

    Actually 357% Not 100%

    Sikuru Thursday, 09 July 2015 05:57 PM

    US honeywell investment, VolksWagon factory,50000 houses etc done by UNP

    tibS Friday, 10 July 2015 04:19 PM

    Is this now time for honest politicians? If Dr Harsha keep this up his days could be numbered.

    Alahapperuma Friday, 10 July 2015 04:36 PM

    Imagination is more important than knowledge.

    Amila Thursday, 09 July 2015 03:43 PM

    Is there a economy in this country? If there is, who are the beneficiaries?

    simon Thursday, 09 July 2015 03:46 PM

    Could you please explain the new computation method to the public so they would be aware

    Raththa Run Thursday, 09 July 2015 03:56 PM

    Treasured Bon..... Bons!

    BA Saturday, 11 July 2015 12:38 PM

    for general public economy grew by 3 - 4%. some other it was 15 - 20% via DM Android App

    Sikuru Thursday, 09 July 2015 04:01 PM

    Dr.Harsha is a honest politician and a true intellectual

    dilip Thursday, 09 July 2015 04:04 PM

    UREKA.Mr.Harsha has invented something new, which did not exist before January 2015. Bravo.

    ANTON Thursday, 09 July 2015 04:11 PM

    BUT CORRUPTION GREW MORE THAN 100 %

    Sri Lankan Friday, 10 July 2015 08:50 AM

    1. There has to be an ECONOMY!! 2. Good question!!!

    Cheers Thursday, 09 July 2015 04:34 PM

    So how much did you contribute to grow In your 150 days nothing so pack your bags and will send you home

    lkman1 Friday, 10 July 2015 09:19 AM

    I remember as a kid, way back when the metric system was introduced to replace imperial measuring systems. At the beginning it looked new and different. It took me good 10 years to learn (as I matured in school curriculum) that what measured did not change but how it was represented changed.


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