Sri Lanka achieved 7.3 percent economic growth in 2013

by Uditha Kumarasinghe

Telecommunication and Information Technology Minister Ranjith Siyambalapitiya told Parliament on Wednesday that according to the Annual Report 2013 of the Central Bank of Sri Lanka, the country had achieved a stable economic growth of 7.3 percent in 2013 and the GDP per capita income had increased to US$ 3,280 last year.

Moving the motion to amend the Special Commodity Levy (Amendment) Bill, Companies (Amendment) Bill, Default Taxes (Special Provisions) (Amendment) Bill and Monetary Law (Amendment) Bill, the Minister said the Annual Report 2013 of the Central Bank is testimony that the economic policy implemented by the Government under the Mahinda Chintana has brought tangible economic benefits to the people. Therefore, is a positive economic growth.

The Annual Report 2013 of the Central Bank of Sri Lanka was presented to President Mahinda Rajapaksa at the Central Bank on Tuesday in his capacity as Finance and Planning Minister.

The Minister said the sound economic policies adopted by the Government had maintained inflation at a single digit level for the fifth consecutive year. This clearly reflects the Government's proper financial management. Headline inflation remained in single digit at 4.7 on a year-on-year basis and 6.9 percent on an annual average basis.

According to the Central Bank report, the industry sector recorded 9.9 percent growth while the services sector recorded 6.4 percent growth last year. The agriculture sector achieved 4.7 percent growth in 2013, he said..