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Governor of the Central Bank says poverty is declining

May 21, 2011 11:39:13 AM - itnnews.lk

The benefits of economic development are reaching the masses. The Central Bank Governor has revealed that poverty levels are steadily declining.

Governor of the Central Bank Ajith Nivard Cabral explained this while delivering the 60th anniversary Oration of  the Central Bank. Sri Lanka met its economic targets in 2010 achieving an economic growth of  8 %. With this poverty levels have declined by half. Poverty level which was recorded as 15.2 % in 2006 has dropped to 7.6 in 2009 to 2010. The urban poverty level has dropped to 6.5 % from 6.7 %. The benefits of the economy has been achieved in the rural areas as the rural poverty which was 15.7 in 2006 to 2007 has dropped to 7.7 % last year. A downward trend of poverty has been mostly visible in the estate sector. The poverty level which was 32 % in the estate sector in 2007 has dropped to 9.2% during last year indicating a drastic fall.