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The Cost of Inflation: Sustaining 2015 Consumption in 2023
Sri Lanka's is set to experience a 160% increase in nominal GDP from the 2015 levels of LKR 11.6 trillion as projected nominal GDP for 2023 estimated at LKR 30.3 trillion. However, while the real GDP in 2023 remains relatively unchanged from the 2015 levels, the doubling of nominal GDP highlights the need for a corresponding increase in incomes to maintain the same level of consumption as in 2015. In essence, this means that incomes must grow by 160%, in order to maintain the same level of consumption one did in 2015.
Featured Insight
The Cost of Inflation: Sustaining 2015 Consumption in 2023
Sri Lanka's is set to experience a 160% increase in nominal GDP from the 2015 levels of LKR 11.6 trillion as projected nominal GDP for 2023 estimated at LKR 30.3 trillion. However, while the real GDP in 2023 remains relatively unchanged from the 2015 levels, the doubling of nominal GDP highlights the need for a corresponding increase in incomes to maintain the same level of consumption as in 2015. In essence, this means that incomes must grow by 160%, in order to maintain the same level of consumption one did in 2015.
Featured Insight
The Cost of Inflation: Sustaining 2015 Consumption in 2023
Sri Lanka's is set to experience a 160% increase in nominal GDP from the 2015 levels of LKR 11.6 trillion as projected nominal GDP for 2023 estimated at LKR 30.3 trillion. However, while the real GDP in 2023 remains relatively unchanged from the 2015 levels, the doubling of nominal GDP highlights the need for a corresponding increase in incomes to maintain the same level of consumption as in 2015. In essence, this means that incomes must grow by 160%, in order to maintain the same level of consumption one did in 2015.
Featured Insight
The Cost of Inflation: Sustaining 2015 Consumption in 2023
Sri Lanka's is set to experience a 160% increase in nominal GDP from the 2015 levels of LKR 11.6 trillion as projected nominal GDP for 2023 estimated at LKR 30.3 trillion. However, while the real GDP in 2023 remains relatively unchanged from the 2015 levels, the doubling of nominal GDP highlights the need for a corresponding increase in incomes to maintain the same level of consumption as in 2015. In essence, this means that incomes must grow by 160%, in order to maintain the same level of consumption one did in 2015.
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Sri Lanka annual GDP growth projected to be around 4.5% – 5 % in 2024
Sri Lanka's 2024 economic outlook shows 4.5%-5% GDP growth, rising inflation, stabilized interest rates boosting private sector credit, and strengthened external resilience through tourism earnings, remittances, and...
2024-11-28
Daily News
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SL tourism revenue reaches $ 1.8 Bn
The revenue earned from tourism increased to $ 205.3 million in November 2023 which is over twice the revenue in November 2022, according to the latest data. Minister o...
2023-12-11
The Morning
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ADB, World Bank leads as Sri Lanka gets US$1.5bn in loans in 2023
In the nine months leading up to September 2023, Sri Lanka received a total of 1.5 billion US dollars from its foreign creditors. The Asian Development Bank (ADB) was the largest contributor, disbursing 529 million US dollars, followed by the World Bank with 442.8 million US dollars and the Inter...
2023-12-04
Economy Next
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Sri Lanka bondholders seek official creditor deal terms, say slow progress on talks
The bondholder group of Sri Lanka has called for transparency in sharing the terms of agreements reached with China and Paris Club-led creditors. The group expressed regret over the lack of transparency from official sector creditors and highlighted the importance of transparent communication for...
2023-12-01
Economy Next
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Sri Lanka to get more ADB, WB budget support loans after IMF review
Sri Lanka is anticipating increased budget support loans following an expected International Monetary Fund (IMF) review in December, according to Central Bank Governor Nandalal Weerasinghe. The loans from the IMF, Asian Development Bank, and World Bank are aimed at aiding budgetary financing. Wee...
2023-11-27
Economy Next
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