Sri Lanka is considered a developing country. A nation’s level of development is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality and quality of life. As a developing country, Sri Lanka may not be able to provide consistent social services to its citizens. These social services can include things like public education, reliable health care, and law enforcement. Citizens of developing countries can have a lower life expectancy than citizens of developed countries. Every year, Sri Lanka exports about US$10.39 billion and imports about US$18 billion. 4.1% of the country’s population is unemployed. The total number of unemployed in Sri Lanka is 858,952. In Sri Lanka, 8.9% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Sri Lanka is low, indicating that there is a stable economy. Investors should consider Sri Lanka as a safe place for investment and other financial ventures. Government spending on education is 2.6% of GDP. The country’s Gini index is 49. Sri Lanka experiences poor equality. The gap between the richest and poorest citizens in this country is quite palpable. Sri Lanka has a Human Development Index (HDI) of 0.75. Sri Lanka has a high HDI score. This suggests that the majority of citizens will be able to live a worthwhile life while providing significant help and support to citizens with lower living standards. The Global Peace Index (GPI) for Sri Lanka is 2,188. The Index of Strength of Legal Rights for Sri Lanka is 3. Overall, it is considered rather insufficient – bankruptcy and collateral laws can protect the rights of borrowers and lenders to some extent; Credit information may be sufficient but scarcely available, or conversely, available but not sufficient.
currency
The currency of Sri Lanka is the Sri Lankan Rupee. The plural form of the word Sri Lankan rupee is rupees. The symbol used for this currency is රු and is abbreviated as LKR. The Sri Lankan rupee is divided into cents; There are 100 in a rupee.
Credit rating
The Credit Depth Index for Sri Lanka is 6, which means that the information is mostly sufficient and fairly detailed; Accessibility is not a problem. According to the rating agency S&P, Sri Lanka has a credit rating score of B+ and the prospects for this rating are positive. According to the rating agency Fitch, Sri Lanka has a credit rating of BB- and the prospects for this rating are stable. According to rating agency Moody’s, Sri Lanka has a credit rating score of B1 and the prospects for this rating are positive.
Central bank
In Sri Lanka, the institution that administers the state’s currency, money supply and interest rates is called the Central Bank of Sri Lanka. Locally, the Central Bank of Sri Lanka is called இலங்கை மத்திய வங்கி. The average interest rate on deposits offered by local banks in Sri Lanka is 7.5%.
National debt
Sri Lanka has a public debt of 81% of the country’s gross domestic product (GDP) as estimated in 2012.
Tax information
Corporate tax in Sri Lanka is 28%. Personal income tax ranges from 0% to 35% depending on your specific situation and income level. VAT in Sri Lanka is 12%.
Finances
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Sri Lanka is $218242 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Sri Lanka was last recorded at $10 million. PPP in Sri Lanka is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Sri Lanka is 67,203 billion. Based on this statistic, Sri Lanka is considered to have a medium economy. Countries with medium economies support an average number of industries and opportunities for investment. It should not be too difficult to find worthwhile investment opportunities in medium economies. The Gross Domestic Product (GDP) per capita in Sri Lanka was last recorded at $3 million. The average citizen in Sri Lanka has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Sri Lanka averaged 7% in 2014. According to this percentage, Sri Lanka is currently experiencing significant growth. Countries that are experiencing significant growth offer the best chance for a substantial return on investment, as GDP growth rate is the most important indicator of economic health. As GDP grows, business, jobs, and personal income grow as well.
