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Singapore says Sri Lanka is the fastest growing economy in Asia

Nov 15, 2010 10:33:28 AM - itnnews.lk

Singapore says Sri Lanka is the fastest growing economy in Asia after China. This comment has been made by

Deputy Prime Minister and Defence Minister of Singapore Teo Chee.

He said Sri Lanka has emerged from a decades-long war, and is enjoying an economic revival. He referred to IMF’s upgrading of Sri Lanka to middle income emerging market status recently. The Singaporean Deputy Prime Minister and Defence Minister was delivering the keynote address as guest-of-honour at the 6th International Conference of South Asia on the theme of ‘South Asia in the New Decade: Challenges and Prospects’, organised by the Institute of South Asian Studies of the National University of Singapore.

Like Brazil, Sri Lanka enjoys an adult literacy rate of just over 90%, he said adding ‘Sri Lanka’s gross enrolment ratio, which gives an indication of school attendance, is also comparable to that of China. Referring to Sri Lanka’s gender gap he said, in the Global Gender Gap Report 2010 published by the World Economic Forum, Sri Lanka was ranked within the top 20, the only South Asian country to do so.