Sri Lanka’s per capita income highest in S Asia
Sri Lankan economy’s current B1 sovereign rating has been based on
its high per capita income and growth, rating agency Moody’s said in its
latest credit analysis. “Sri Lanka’s per capita income of $2,800 is the
wealthiest among its South Asian neighbours,” the analysis said. It said
the island had benefited from integration into the global economy.
The GDP is being enriched by workers’ remittances overseas which have
been growing at over 15 per cent annually.
Tourism has been another driver of growth with earnings contributing
over $800 million.
The end to the war with the LTTE in 2009 has helped growth to move up
to over eight percent.
Inflation has been moderating at 8.9 percent in October compared to
double digits during the peak of the military conflict in 2008-2009.
“However, the rehabilitation and reintegration of the Northern and
Eastern Provinces ensuring stable macroeconomic environment, which is
conducive for attracting domestic and foreign investments will be the
key,” the analysis said.
Courtesy: PTI |