
Published on Sunday, 24 November 2013 18:50
Sri Lanka's Ministry of Finance and Planning (click here) last week released the government's Public Investment Strategy for 2014-2016 titled 'Unstoppable Sri Lanka 2020'.
The strategy formulated by the government outlines that Sri Lanka intends to become a US $ 100 billion economy by 2016 and a US $ 185 billion economy by 2020. The government aims to increase the Per Capita Income from US $ 4,470 by 2016 and to US $ 8,500 by 2020.
The plan also outlines that an Inflation target of 4% is expected by 2016 while it will be further reduced to 3% by 2020.
The country aims to reach an export target of US $ 18 billion by 2016 and a US $ 20 billion target by 2020 while earnings from the tourism industry is expected to be US $ 2.65 billion by 2016 and US $ 5 billion by 2020. The Government also aims to increase country's trade turnover to be US $ 44.1 billion by 2016 and to US $ 50 billion by 2020.
Sri Lanka also targets over US $ 10 billion from remittances by 2016 and US $ 16 billion by 2020.
The country's Services sector will be further enhanced to reach a target of US $ 2.6 billion by 2016 and to earn nearly US $ 4.6 billion by 2020.