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    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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    Citable URI
    http://hdl.handle.net/11540/6248
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    Author
    Asian Development Bank
    Theme
    Development
    Economics
     
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise