Introduction Sri Lanka, under British colonial rule referred to as Ceylon, is a multi-ethnic and multi-lingual island, home to major world religions such as Islam, Christianity, Hinduism and Buddhism. With a surface of 65, square kilometres, Sri Lanka covers an area about the size of Ireland or, the present European states of The Netherlands and Belgium together. Geographically, Sri Lanka can be divided into three regions:
Inglobal GDP amounted to about Gross domestic product Gross domestic product, also known as GDP, is the accumulated value of all finished goods and services produced in a country, often measured annually.
GDP is significant in determining the economic health, growth and productivity in the country, and is a stat often used when comparing several countries at a time, most likely in order to determine which country has seen the most progress.
Global GDP has experienced a growth every year over the past decade with the exception of However, a strong growth rate does not necessarily lead to all positive outcomes and often has a negative affect on inflation rates.
A severe growth in GDP leads to less unemployment, however lower unemployment often leads to higher inflation rates due to demand increasing at a much higher rate than supply and as a result prices rise accordingly. Despite a relatively high global GDP growth, unemployment only marginally changed over the course of 5 years and is forecasted to remain stagnant going into Unemployment, however, is often difficult to predict, primarily now since most economies are still recovering from the global financial crisis.
Show more GDP in billion U.Comments on The Present Global Financial Crisis and Sri Lankan Economy by Mr Ajith Nivard Cabraal, Governor of the Central Bank of Sri Lanka 10 October 1. The Global Economy is in Turmoil.
The ongoing financial crisis originated as a result of the subprime mortgage crisis (SMC), erupted in . With member countries, staff from more countries, and offices in over locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries.
The Great Recession was a period of general economic decline observed in world markets during the late s and early s. The scale and timing of the recession varied from country to country.
In terms of overall impact, the International Monetary Fund concluded that it was the worst global recession since the Great Depression in the s. The causes of the recession largely originated in. The Global Competitiveness Report assesses the competitiveness landscape of economies, providing insight into the drivers of their productivity and prosperity.
Oct 29, · The crisis has important ramifications in a battle for influence in South Asia between Sri Lanka's traditional ally India and China, a country that is playing an increasing role in the region.
This research has been commissioned to identify whether the recessional hit has transmitted to Sri Lanka which is an Asian developing country after the study of the root courses of the global financial crisis initiatives in