Sri Lanka’s prosperity improved in 2015 from previous year: Central Bank

Jan 03, 2017 (LBO) – Sri Lanka’s prosperity has improved to 0.864 in 2015 from 0.804 in the previous year, the Central Bank statistics showed, as measured by the Sri Lanka Prosperity Index (SLPI).

The SLPI is a composite indicator that measures and compares the level of prosperity of the country and across its provinces.

Analyzing the movements in 2014 – 2015 period, the SLPI has improved along with the improvements in Economy and Business Climate and Well-being of the People sub-indices, while there is a moderation in Socio-Economic Infrastructure sub-index.

“The improvements in per capita GDP, informal sector wages, industrial density and banking density have contributed towards the enhancement of the Economy and Business Climate sub-index,” the Central Bank said.

With regard to the sub-index of Well-being of the People, the improvements were mainly due to high performance in availability of healthcare facilities, availability & quality of education, wealth of people and availability & usage of entertainment facilities.

“The moderation of the Socio-Economic Infrastructure sub-index was led by moderate levels of government expenditure for road development and availability of transport facilities as a whole.”

The aspects of availability of electricity, telecommunication facilities and crime free environment of Sri Lanka however have shown marginal improvements within the Socio-Economic Infrastructure sub-index during 2014 – 2015 period.

The SLPI and all its sub-indices demonstrate increasing trends over the last five years.

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