http://www.defence.lk/new.asp?fname=20120105_01



Sri Lanka 4th best Economy in the World

A global survey carried out by a reputed Equity and Bond Trading Institution has said that the high 8.4% economic growth enjoyed by Sri Lanka in the third quarter is the fourth best in the world.
It said that Sri Lanka judging by impressive third quarter GDP data has bucked the downward trend in the global economy. As per the Survey, Sri Lanka is only lagging behind the world economic powerhouse China whilst Sri Lanka has also remained consistent as against other emerging economies in the top four ranks.
The Survey cites Argentina with 9.3% of economic growth as the leading economy in the world followed by China with 9.1% of economic growth and then Estonia with 8.5% of economic growth. Accordingly Sri Lanka occupies the fourth place with 8.4% of economic growth and the fifth place is occupied by Turkey with 8.2% of growth.
India occupies only the 7th place with 6.9% of growth and Malaysia which was once considered as the Economic Giant of Asia occupies 9th position with 5.8% of growth followed by Russia on the 10th position with 4.8% of growth.
The Survey says that Sri Lanka's growth although broad based will continue to be driven by the industrial and construction sectors. It says that this performance is highly encouraging and indicative of Sri Lanka's resilience and strength in an environment of globally heightened risk. It says that Sri Lanka's solid fundamental base is developing for a prolonged rise in the market with Sri Lanka now growing amongst the fastest in the world.
The Global Survey has been carried out by DNH Financial (Pvt) Limited, formerly known as HNB Stock Brokers (Pvt) Ltd, which was acquired by Environmental Resources Investment PLC (ERI) in October 2009, and now functions as a fully owned subsidiary. DNH Financial (Pvt) Ltd, is licensed to facilitate Equity and Bond trades. Initially it was incorporated in 1992 as a joint venture between HNB, DFCC and Jardine Fleming of Hong Kong under the name HDF Securities.
Courtesy : Department of Government Information