Sri Lanka targets higher per capita income

Srilanka growth

The Sri Lankan government has targeted the country's per capita income for 2012 to be as high as USD 3,000, a release said today.

The island's per capita income did not exceed the USD 1,000 mark until 2008, when it doubled at USD 2,014. In 2011, it was USD 2,836 up from 2,400 in 2010.

The sustained growth momentum has taken the country to a high growth trajectory placing it among middle income economies in the world.

Last year, Sri Lanka recorded 8.3 per cent growth, the second year in succession that over 8 per cent growth rate was achieved.

This was the first time since independence from Britain in 1948 that over 8 per cent growth had been recorded for consecutive years, Central Bank said last week.

Despite uncertain outlook for global commodity prices, especially oil, the country aims to sustain high growth.

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