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Sri Lanka: Govt. Invests 5.9 Percent of GDP in Public Projects Last Year
Source: priu.gov.lk
Source Date: Wednesday, June 19, 2013
Country: Sri Lanka
Created: Jun 25, 2013

The Government has spent Rs. 444 billion in 2012 in comparison to Rs. 422 billion in 2011 in support of public investment in progress. Accordingly, it was 5.9 percent of GDP, the Finance and Planning Ministry said in its 2012 report.

 

According to the annual report of the Ministry of Finance for the year 2012, the government has been able to maintain public investment at an average of 6.2 percent of GDP during the period from 2005 to 2012 in comparison to 4.7 percent during 2002-2004 Period.

 

The public investments were used to expand the capacity of power generation, develop seaports and airports, expressways, highways, national irrigation system, water supply and sanitation, schools, vocational training institutions, universities, hospitals and service delivery facilities.

 

During the ten year period from 2002 -2012, the country's power generation capacity improved from 2,231MW to 3,312 MW and the increased investment enabled the government to provide electricity to 93 percent of the population as opposed to 65 percent in 2002.

 

The Colombo Outer Circular Highway, Colombo South Harbour Project, Phase II of the Southern Expressway from Galle to Matara, Phase II of the Mahinda Rajapaksa Port at Hambantota, the Colombo -Katunayake Expressway as well as the extension of the Northern railway line to Jaffna were among the key infrastructure development projects, which were in progress in 2012.

 

Sustaining expenditure on education, health, rural development, welfare, and infrastructure development is the main thrust of the government policy, the report said.

 

Such investments ensured the sustainability of achieving higher living standards of people while facilitating the private sector investment by providing the necessary infrastructure, the report further said.

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