AFA Press partners Universal News analyzes Sri Lanka's economic plans

As published in Foreign Policy on Tuesday, March 6, 2012, Universal News, one of the different AFA Press partner agencies working around the globe, produced and special report on Sri Lanka. This report is the conclusion of a thorough investigation on site, made by one of Universal News teams who travelled to the country in order to gather first hand information, make interviews to the most relevant and interesting personalities both in the political and business areas. This country report can also be read on line at Worldfolio.com.

Sri Lanka, a country of 21 million inhabitants, has recently entered the club of the mid-range income per capita countries. Data on 2009 reflected an income per capita of 2,053 dollars, almost doubling the average of 2004, 1,063 dollars. The next milestone established by the Government of President Mahinda Rajapaksa [link], who reached the maximum authority on the country in 2005, is to reach an income per capita of over 4,000 million dollars by 2016, which would mean doubling the current numbers and arriving to the high income countries club as a full right member.

This aim was reflected in the Presidential Election Manifesto 2010. Achieving this landmark implies a need to raise the country’s investment ratio up to the 40% of its Gross Domestic Product, which is currently established on a 25%. At the same time, the country needs to keep its real GDP growth in a yearly 8-to-10 percent range.