Sri Lanka living standards improving despite negative feelings: CB Governor

August 13, 2007 (LBO) – Despite perceptions of a lack of a ‘feel good’ factor steady gains are being made in living standards, Sri Lanka’s central bank governor Nivard Cabraal said. “Since there are perceptions and claims that people do not feel economic development. Let me also trace a few indications,” Cabraal told the members of the Sri Lanka Association of Economists at its annual sessions.

He said one fifth of Sri Lanka’s population was below the poverty line, which was a critical challenge, but improvements were being made.

He said the number of new motor vehicles, including three and two wheelers, are going up.

“We find that usage of mobile phones have gone up tremendously,” Cabraal pointed out. “More than six million users are there today.”

Apartment units and new houses were coming up. Supermarkets were being opened all over the country, and 46 new banking outlets had opened in the first five months of the year.

More people were sending their children abroad and also traveling outside the country.

“Just see the number of people outside the Indian embassy going on pilgrimage,” he said.

“If you compare it with what you have seen one year