Thursday, December 25, 2008

Sri Lanka expects 8 per cent GNP growth

The Government expects to bring Sri Lanka to middle income level by raising the annual per capita income to Rs. 485,000 by 2016 by increasing the Gross National Product with a minimum annual growth rate of eight per cent under the 10-year development program, said Labour Relations and Manpower Minister Athauda Seneviratne.

The Minister said it is necessary to increase productivity as well as investment to ensure a higher rate of development. Even by international standards, Sri Lanka’s productivity both in the public and private sector is at a low level.

“We want to increase the Gross National Product at least with a 30 per cent investment level and also by maintaining productivity level between four and five per cent right throughout,” the Minister added.