Economy grown by 5.5% in the first quarter of 2016
Sri Lanka’s economy amidst domestic and international challenges has successfully achieved an economic growth of 5.5% in the first quarter of 2016 compared to 4.4% growth in the same period 2015.
The Mid-Year Fiscal Position Report is released to the public by the Finance Ministry by 30th June of every financial year and thereafter it is tabled in parliament as stipulated in section 10 of the Fiscal Management (Responsibility) Act No. 03 of 2003.
The report further pointed out that the income during the relevant period has increased by 19.5% in 2016. The inflation will also be maintained further in single digit level.
Although the overall export income has decreased from 4.5% with international market instabilities, the report points out that the flow of foreign exchange has increased through foreign workers remittances and tourism, and the import expenditure on food, petroleum products, and transport equipment has decreased causing a reduce of 2.4% of the trade deficit in first four months of 2016 compared to the same period in 2015.
The approval of the Cabinet of the Ministers has been received to table this Mid-Year Fiscal Position Report 2016 in the Parliament.
(Government News Portal)
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Does the Central Bank support this claim for this is steeped in conflicts
1. during the same period (2015 – 2016 1st quarter) income increased 19.5% meaningless considering that this income is not qualified
2. economic growth during same period during the same period increased from 4.4 to 5.5
3. overall export decreased from 4.5 with the international market instabilities ( what garbage)
4. flow of foreign exchange increased which contradicts the earlier statement of the decrease
Obviously the statement made by the Ministry of Finance is designed to dupe the legislature for regardless of the fiscal policy the data and the analysis should be the responsibility of the central bank research unit
This does not show that the government we elected to power in 2015 has done anything to increase job opportunities to give a million jobs by 2020 as such why publish it at all