Significant economic growth since last year - President [November 21 2013]

President Mahinda Rajapaksa presenting the budget 2014 in Parliament today said the economic growth of 6.4% registered last year amidst global instabilities and high oil prices has increased to 7.8% in the third quarter of this year.

The president said there is confidence that the economic growth will exceed 7% this year and move towards 7.5% to 8% during the mid term of 2014 to 2016.

Despite the predictions of dooms and glooms about the economy, the countrys poverty level has steadily declined to 6.4% in 2013 from 15.2% in 2006.

President said by hosting CHOGM twenty years after it was last held in an Asian country, Sri Lanka while bringing pride to the whole Asia was also able to attract global attention to our economy as one of the leading emerging economies in Asia.