In December 2004, Tsunami caused its massive devastation in Sri Lanka. Many people died and even more people became homeless. The damage on infrastructure was terrible too. However, it appears that Tsunami could not stop Sri Lankan economy from moving forward strongly- that is the view of ADB in its ADO 2006. Despite the fact that Sri Lankan government is engaged into a massive infrastructure rebuilding program after the devastation of Tsunami, Sri Lankan GDP growth remains to be healthy (in the range of 5%-6%). ADB thinks that for , civil war is a larger threat than Tsunami. ADB has stated clearly that the future of Sri Lankan economy depended largely on the peaceful condition in the country.
One matter really surprised me. ADB has stated, " only 2% of young people attend university, substantially lower than the South Asian average." It is shocking to me because I know and it is supported by CIA country profile too that Sri Lanka has the highest rate of education (92.3%) among South Asian countries. So, Sri Lanka must give more importance to higher education.
With this, I am finishing my discussion about Asian Development Outlook (ADO) 2006. I hope you enjoyed it.
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