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Sri Lanka’s GDP to reach US$ 100 billion

Lankan Ranger

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Aug 9, 2009
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Sri Lanka’s GDP to reach US$ 100 billion

Sri Lanka’s Gross Domestic Product (GDP) will reach a record US $100 billion by the end of the year, Central Bank Governor Ajit Nivaard Cabraal said. Speaking at the Ceylon National Chamber of Industries (CNCI) awards ceremony last night at Cinnamon Grand he said that this is currently at around the US $50 billion mark.

The Governor said these positive figures are being maintained at a time when most of the world economic giants are facing economic turmoil. “The success story of Sri Lanka is that the country had been insulated against the world shock by getting the macroeconomics right,” he said.

“Sri Lanka has now entered an era of rapid economic and social progress. The macroeconomic stability reinforced by the long term development plans, significant development of physical infrastructure, and conducive business environment have contributed to the advancement in our industrial and manufacturing sector. A series of further initiatives are already under way to improve the investment climate and reduce the cost of doing business,” the Governor said.

“The Ceylon National Chamber of Industries could be the catalyst in this process by supporting the private sector to seize numerous new opportunities which are opening up in many sectors of the economy.

CNCI Chairman Sunil Liyanage said that today industries face competition both nationally and globally. “Regional trade agreements whilst opening up new markets also brings with it, its own pit falls. To succeed, industries must adapt well and bring out from within, solutions through innovation and creativeness,” he said. “Through participation and involvement in events such as this, enterprises could benchmark themselves against best practices and strive for excellence,” Liyanage said.

Sri Lanka Business News | Online edition of Daily News - Lakehouse Newspapers
 
Either Cabraal is smoking crack -- or the newspaper has misquoted him.

(or talking about GDP in PPP terms)

Either way there is no way you can double it in another 3 months! :disagree:
 

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