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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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Fuel prices rise
Fuel prices in Sri Lanka have seen a significant increase, with State-run Ceylon Petroleum Corporation (CEYPETCO) and Lanka IOC raising the price of Octane 92 Petrol by Rs. 4 to Rs. 365 per litre, 95 Octane Petrol by Rs. 3 to Rs. 420, Auto D...
2023-10-02
Daily Ft
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EPF to be transformed to a part-pension fund
The EPF and Employees’ Trust Fund (ETF) are to be transformed into a part-pension fund functioning under the Treasury, official sources said adding that the Finance Ministry has been directed to work out modalities of the pension scheme. The proposed pension...
2021-05-09
Sunday Times
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Don’t allow Port City to undermine national sovereignty
The national sovereignty of Sri Lanka is becoming increasingly severely compromised by the poverty of its Government; the proposed tax exemptions for Port City will make it even poorer.
2021-05-08
DailyFT
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Sri Lanka reclassifies some sovereign bonds as domestic debt
Sri Lanka has reclassified 2.2 billion US dollars of international sovereign bonds held by local entities like banks as domestic debt, while a collapse in secondary market prices of bonds also reduced external debt due to accounting treatment, official data show. Sri La...
2021-05-07
EconomyNext
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Namal says project to establish 500 outdoor gyms only after COVID-19 third-wave ends
Amidst mounting criticism against the government for allocating a staggering Rs.625 million to establish 500 outdoor fitness centres amidst the rapid spread of the COVID-19 pandemic, Sports and Youth Affairs Minister Namal Rajapaksa yesterday said these monies could be...
2021-05-06
Daily Mirror
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