Sri Lanka to reach US$150 billion GDP by 2020

November 15, 2024

World - Business

Sri Lanka to reach US$150 billion GDP by 2020 - CB Governor

August 06, 2014

Sri Lanka is striving by 2020 to surpass US$ 7,000 per capita income and reach a US$ 150 billion GDP and currently the GDP is at US$ 77 billion and could easily reach the target of US$ 150 billion by 2020, the Governor of Central Bank Ajith Nivard Cabral said addressing the 14th Economic Summit organized by Ceylon Chamber of Commerce at Cinnamon Grand.

He pointed out that according to the Central Bank annual report, Sri Lanka's per capita income has increased from US$ 2,922 in 2012 to US$ 3,280 in 2013. It is projected to reach US$ 4,240 by the end of 2015 and up to US$ 7,000 by 2020.

He said that by 2020, the poverty would be reduced to one percent and several other economic indicators and international rankings for Sri Lanka too will improve and the country will definitely be ranked among the top 20 in the Doing Business Index.

Sri Lanka Economic Summit 2014 which commenced on August 05 under the title of "Sri Lanka 2020: Towards the $7000 Per Capita" will conclude today. (ST/KH)