Sri Lanka Economic Quarterly
Asian Development Bank | July 2003
Abstract
The Quarterly Economic Update (QEU) provides a comprehensive and updated analysis of recent economic performance in Sri Lanka. Economic Developments: Sri Lanka continued to enjoy strong economic growth during first quarter, as its foreign trade finally began to revive. The country should achieve growth in excess of 5% for the year, with inflation below 6.5%. The Government needs to address the slippages on the fiscal side if its ambitious budget targets are to be met. Policy Issues: The Government’s enactment of the Fiscal Management (Responsibility) Act is an important step toward sustainable management of public finance. To increase the transparency and accountability of fiscal operations, twice a year the Government will formally report to Parliament on the status of budget implementation. Under the Act, theGovernment has commited itself to reduce the fiscal deficit to 5% of GDP and the public debt to 85% of GDP by 2006. Development Focus: Sri Lanka receives foreign assistance from a wide variety of sources, but most of the funds are in the form of loans rather than direct transfers. However, the concessional terms of the loans generate a real transfer of resources in net present value terms that is equivalent to a grant. A loan’s “grant element” can be increased by lowering the interest rate, extending the grace period, or postponing the maturity.
Citation
Asian Development Bank. 2003. Sri Lanka Economic Quarterly. © Asian Development Bank. http://hdl.handle.net/11540/6248.Keywords
Development Planning
Development Research
Technology Development
Aid And Development
Asian Development Bank
Comprehensive Development Framework
Development Cooperation
Development Management
Development Planning
Development Strategies
Development strategy
Development models
Economic development
New technology
Rural planning
Aid coordination
Industrial projects
Infrastructure projects
Natural resources policy
Educational development
Absorptive capacity
Rural planning
Regional development bank
Project finance
Strategic planning
Infrastructure projects
Government programs
Public finance
Public enterprises
Development
Economics
Development In East Asia
Development Planning
Development Research
Technology Development
Aid And Development
Asian Development Bank
Comprehensive Development Framework
Development Cooperation
Development Management
Development Planning
Development Strategies Development strategy
Development models
Economic development
New technology
Rural planning
Aid coordination
Industrial projects
Infrastructure projects
Natural resources policy
Educational development
Absorptive capacity
Economic development projects
Economic forecasting
Economic development projects
Municipal government
Technology transfer
Exchanges of patents and technical information
Technical education
Technology
Communication in rural development
Communication in community development
Economic development projects
Development banks
Economic forecasting
Environmental auditing
Cumulative effects assessment
Human rights and globalization
Transfer Technocracy
Absorptive capacity
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