Nov 15, 2019 (LBO) – Sri Lanka Prosperity Index (SLPI) that measures the level of prosperity of the country increased to 0.783 in 2018 from 0.548 recorded in 2017, the Central Bank data showed.
SLPI is a composite indicator compiled by the Statistics Department of the Central Bank and comprises three sub-indices measured using 43 variables representing different aspects of prosperity.
The Central Bank said all three sub-indices of SLPI, namely ‘Economy and Business Climate’, ‘Well-being of the People’ and ‘Socio-Economic Infrastructure’ contributed to the index increase.
Economy and Business Climate sub-index improved mainly due to price stability and increase in informal sector wages during 2018.
With regard to the sub-index of Well-being of the People, major improvements were recorded in the aspects of health facilitation, quality of education, wealth of people and purity of the environment.
Socio-Economic Infrastructure sub-index also increased slightly during 2018 mainly due to the improvements in availability of electricity, transportation, and Information and Communication Technology (ICT) facilities and pipe borne water quality.
Provincial prosperity indices, which were compiled to measure the level of prosperity across provinces, increased in all nine provinces.
Western province led with the highest values of provincial prosperity index and its sub-indices.
Meanwhile, the highest increase of provincial prosperity index was recorded from Sabaragamuwa province mainly due to improvements within its Economy and Business Climate sub-index driven by price stability and increase in informal sector wages.