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    Sri Lanka, 2018–2022—Transition to Upper Middle-Income Country Status

    Asian Development Bank | July 2017
    Abstract
    With robust growth over the last decade (2007–2016), averaging about 6% per annum, Sri Lanka is close to becoming an upper middle-income country (UMIC). The key development challenge is to maintain the momentum of rapid inclusive and sustainable growth and advance its UMIC status. The manufacturing and export base of the economy needs to be diversified and the declining trend of exports to gross domestic product (GDP) reversed. This is necessary as the limited size of the domestic market will be a constraining factor for sustaining future growth. With limited public resources, the private sector will need to drive the transformation of the economy. Improving the investment climate, developing growth oriented infrastructure, and enhancing the quality of human resources are necessary for catalyzing domestic private investment and attracting higher foreign direct investment (FDI). To ensure inclusiveness of growth, poverty will need to be further reduced, inequality narrowed, and balanced geographical development supported. Maintaining environmental sustainability is also a challenge and needs to be addressed.
    Citation
    Asian Development Bank. 2017. Sri Lanka, 2018–2022—Transition to Upper Middle-Income Country Status. © Asian Development Bank. http://hdl.handle.net/11540/8848.
    Keywords
    Development
    Finance
    Development Challenges
    Development Issues
    Development Problems
    Microenterprises Finance
    Commercial Finance Companies
    Enterprise Financing
    Financial Analysis
    Banking Finance And Investment
    SMEs
    Rural planning
    Economic development
    Economic indicators
    Standard of living
    Development projects
    Development policy
    Housing projects
    Development models
    Social reform
    Urban planning
    Public Borrowing
    Credit Policy
    Banks
    ADB
    Project finance
    Development plans
    Strategic planning
    Business Financing
    Investment Requirements
    Insurance Companies
    International Monetary Relations
    International Financial Market
    Exchange Rate
    Cultural Development
    Development Economics
    Development Issues
    Financial Sector Development
    Infrastructure Development
    Urban Development Finance
    Financing
    Financial System
    Financial Sector Reform
    Financial Institution
    Bank Financing
    Insurers
    Insurance stocks
    Insurance holding companies
    Insurance carriers
    Insurance agencies
    Business subsidies
    Investment companies
    International banks and banking
    Stock exchanges
    Grants
    Loans
    Interest Rates
    Real estate development
    Housing development
    Community banks
    Mortgage banks
    Housing policy
    Tax administration and procedure
    Real property and taxation
    Property tax
    Credit control
    Banks and banking
    Title companies
    Tax deductions
    Accounts
    Savings
    Inheritance and transfer tax
    Trusts and trustees
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    Citable URI
    http://hdl.handle.net/11540/8848
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    cps-sri-2018-2022.pdf (285.3Kb)
    Author
    Asian Development Bank
    Theme
    Development
    Finance
     
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise