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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: Backwards in Blacklisting
Sri Lanka the only South Asian nation to not blacklist corrupt contractors: Verité Research
2024-02-19
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How Committed was the Sri Lankan Government to Implementing its Crisis-Response Policies
For information about the 15 proposals tracked, responsible agencies and other findings, visit : Assessment of Sri Lanka Government's Commitment to Crisis Response Policies 2022 ...
2023-03-17
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Sharing the cost of the crisis: The need to restructure domestic debt together with an ‘Asset Management Company’
This article was compiled by Professor Udara Peiris. Udara Peiris joined Oberlin in the fall of 2022. He was previously a tenured Associate Professor of Fi...
2022-04-19
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Budget Promises : Beyond Parliament 2021 Mid-Year Assessments
Budget Promises : Beyond Parliament is a dashboard under the public finance platfor...
2022-03-28
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Committee on Public Finance : Roles and Functions
The Committee on Public Finance(COPF) is one of three parliamentary legislative committees that evaluates external audit reports and other public finance information. This infographic gives a summarized oversight of COPF, its roles and respo...
2021-12-08
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How does the supplementary estimate of LKR 200bn on control of the covid epidemic change the budgeted figures for 2021 ?
The supplementary estimate of Rs. 200 billion submitted by the government for the control of the Covid epidemic and other urgent needs was passed in Parliament on 23rd June 2021. This will lead to an increase in the budgeted expenditure and...
2021-07-22
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Ministers and State Ministers – Cost of Offices Are Similar
Did you know that the cost of maintaining an office for a cabinet and state minister are similar? In 2021, the Government of Sri Lanka allocated LKR 2,590 million to maintain the offices of 30 Cabinet and 40 State Ministers.
2021-02-12
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Background on Vote on Account
Today, 28 August 2020, is the last day of the debate in the Parliament on Vote on Account allocating funds for the period Sept to Dec 2020. Here are some things you need to know about a Vote on Account.
2020-08-28
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The Money Spent on Parliament: Where does it go?
In 2017, LKR 2,841 Million was spent on Parliament of Sri Lanka. 60% of the total (LKR 1,711 Mn) was spent on services related to the establishment of the parliament. T...
2020-08-21
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