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According to the Asian Development Bank, the population of Sri Lanka was 19.71 million in 2015. In 2014, 6.7% of the country lived below the national poverty line. During the same year, it was also reported that 50.5% of the population aged 15 years and above were employed. [6]
The second table lists countries by the percentage of the population living below the national poverty line—the poverty line deemed appropriate for a country by its authorities. National estimates are based on population-weighted subgroup estimates from household surveys. [9] Definitions of the poverty line vary considerably among nations.
By 2024, Sri Lanka re-entered the path of economic growth, with a renewed focus on sustainable development. [149] Sri Lanka has met the Millennium Development Goal (MDG) target of halving extreme poverty and is on track to meet most of the other MDGs, outperforming other South Asian countries. Sri Lanka's poverty headcount index was 4.1% by 2016.
"This debt restructuring plan is essential for Sri Lanka to meet the target set by the IMF agreement to reduce debt from the current 128% of GDP to 95% of GDP by 2023," State Minister of Finance ...
In the second quarter of 2020, Sri Lanka's GDP was estimated to have contracted by 16% the biggest quarterly fall on record and expanded by 2% in the third quarter. In the first nine months of the year, GDP was estimated to have contracted 5%. [118] After growing 5.0% in 2015, growth fell to 4% in 2016, 4% in 2017, 3% in 2018 and 2% in 2019. [119]
A country's gross government debt (also called public debt or sovereign debt [1]) is the financial liabilities of the government sector. [2]: 81 Changes in government debt over time reflect primarily borrowing due to past government deficits. [3] A deficit occurs when a government's expenditures exceed revenues.
The formula for calculating it is: ... Population below income poverty line ... Population below 50% of median adjusted household disposable income (%), 1994–2002 ...
[1]: 81 A debt instrument is a financial claim that requires payment of interest and/or principal by the debtor to the creditor in the future. Examples include debt securities (such as bonds and bills), loans, and government employee pension obligations. [1]: 207 Net debt equals gross debt minus financial assets that are debt instruments.