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SL economic growth may drop -- WB

16 April 2015 05:32 pm - 27     - {{hitsCtrl.values.hits}}

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Sri Lanka's economic growth is expected to drop to 6.9 percent due to the slowing down of construction activities, the World Bank says in a report.

The World Bank, in its report on South Asia, said the high consumption levels triggered by the salary hikes of public servants would somewhat offset the impact.

It also said the new government was reassessing the investment-led economic policy.

In the overall context, the Bank said, South Asia had the best growth rate, mainly driven by the accelerated growth level in India. (Kelum Bandara)

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  Comments - 27

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  • Prem Nath Friday, 17 April 2015 09:39 AM

    Too many cooks spoil the soup. This government is unable to find direction to revive economy.But,it has found a way to hinder progress.

    Puran Appu Saturday, 18 April 2015 07:04 PM

    Hey, friends. We need to create a corruption free country and ensuring all communities to live happily. But what we now do is mere pleasing TNA and western nations. Can the new government consider this please.

    Voter Saturday, 18 April 2015 03:00 PM

    Hope our people are willing to wait for so long..

    R K Saturday, 18 April 2015 08:40 AM

    During the previous regime most money that came into the country were bribes. So effectively "corruption" was our biggest export. And when you suddenly pull the plug off the biggest export in the country there will be as temporary downward trend . But corruption based growth is not the way to go, so if the current PM and his government continues to put things in order and banish corruption, the downward trend will soon turn back into an exponential upward trend .

    Manel Saturday, 18 April 2015 02:32 AM

    Even if Adam Smith is put in charge of the SL economy it cannot be corrected even in 200 days because of the damage caused to the economy by a continuous 10 year run of corruption, plundering, robbery and ineffecient management of a family of crooks and their goons. MY3 need at least 1000 days to put things right and to kick all the rogues out. By the way when is BARA coming frm Uncle Sam to face the music.

    Atapattu Friday, 17 April 2015 09:30 PM

    J.R. Pointed out democracy is more luxurious to us. And what is going in Sri Lanka is desided by India,US and EU

    Geen Friday, 17 April 2015 06:27 PM

    Sri Lanka is run by politicians only, not economists.

    Sumana Friday, 17 April 2015 04:19 PM

    Can you pls tell me about this new universities?What is so great about the previous government when we had to pay bribes to principles to get children into schools

    Ceylonese Friday, 17 April 2015 03:20 PM

    Must be an FB coulourful post believer

    Sirisena Friday, 17 April 2015 03:01 PM

    Must be a Anura kumara follower?

    expatrior1 Friday, 17 April 2015 11:51 AM

    Never mind the growth. We have yahapalanaya.

    Mevan Friday, 17 April 2015 10:56 AM

    Meeting the qeen is much better diplomacy than assualting diplomats at dinner parties.

    Harak Poop Friday, 17 April 2015 10:51 AM

    Whatever said and done. The same crooked ministers who did these deals in the previous govt are not part of the new coalition. The president is now only a faced puppet controlled by Ranil the PM. And the PM is the one making deals with the corrupt ministers. Everyone is making deals to stay safe from corruption. Even in ceremonies the President is given less priority than the PM. This was the greatest trick ans MS will go down as a bad president.

    Sammy Friday, 17 April 2015 09:59 AM

    This is the flaw when considering growth statistics for a year. It does not take into account corruption, distribution of benefits, white elephant construction projects etc.

    Nims Friday, 17 April 2015 03:57 AM

    Sri Lanka is never a good place to invest. Investment policies changes with the Governments thus making the foreign investors in deep trouble. MR invited Sri Lankans living overseas to invest their money promising a good return and he did. But this government slashed all those facilities and the investors would have been better off in overseas investing.

    Sincere Friday, 17 April 2015 09:30 AM

    Of course the economy of some individuals sky rocketed in the past due to construction industry here!

    Lokubandara Friday, 17 April 2015 09:26 AM

    Ha ha very funny way of explaining the current situation. Most people have voted against you for a mere joke.

    ish Friday, 17 April 2015 08:47 AM

    May be most of what you heard is propaganda

    Dan Friday, 17 April 2015 08:43 AM

    Some idiots are talking about empty development. Are they so badly demented to forget road network, highways, power plants, city development, rail roads, high rise buildings, new hospitals, Universities that have come during the past ten years???

    Gamaya Friday, 17 April 2015 07:52 AM

    Is this the change, MY3 supporters expected?

    dulan Friday, 17 April 2015 07:08 AM

    Is this not obvious .We need to focus on getting fundamentals right before focusing on empty development

    Gamaraala Friday, 17 April 2015 06:52 AM

    Why no minister in this Government is talking about Investments / employment generation and exports.

    Wele Vidane Friday, 17 April 2015 05:33 AM

    We have best economists in the office now.

    sunil vijaya Friday, 17 April 2015 04:37 AM

    What growth? White elephants Mattala airport and Magampura sea port? Is that how WB measure growth?. This is laughable!.Ruining environment in the name of development is not true development.

    simon Friday, 17 April 2015 04:33 AM

    What happened to economic specialists ??

    saman Friday, 17 April 2015 04:30 AM

    Who cares as long as we get our payrise, free internet, subsidized fuel, free education and health! Stuff the economy Mr. World Bank. You must be an MR suppoter!Shame on you! Our humble MS has done so much during the last few month. He even met the Queen Elizabeth the second!

    Manel Friday, 17 April 2015 04:30 AM

    Can someone explain how economic growth can be achived when bribary and corruption is rampant and there is inefficient eco nomic managament.


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