Sri Lanka`s north records highest provincial growth

Last Updated: Thursday, August 9, 2012 - 16:11

Colombo: The northern province of Sri Lanka, a former battle zone, has recorded the highest growth among all nine of the island`s provinces, the Central Bank said here on Thursday.

"The northern province recorded the highest growth rate of 27.1 percent in nominal terms in 2011," a statement said.

The reason for high growth in the north was its agriculture.

The paddy production in the north has increased by 90 percent to 210 million kgs in 2011 over 2010.

Both inland and marine fishing industries have also achieved significant growth in the province.

During the three decade-old separatist conflict, the agriculture in the north was hampered by the armed clashes in the province.

The fishing restrictions imposed meant that fishing industry was curtailed.
In the banking sector, some 34 new bank branches were opened in 2011.

The LTTE ran its own banking and judicial system in their parallel administration, which was crushed in the military offensive in 2009.

The next highest provincial GDP growth was recorded in south.

Infrastructure development such as the southern highway and the construction in progress of the new international airport had contributed to over 21 percent growth in southern GDP.

The western province where the capital Colombo is located has continued to contribute a larger share to the national GDP.

However, the West`s contribution had seen a drop from 44.8 percent in 2010 to 44.4 percent in 2011.

PTI



First Published: Thursday, August 9, 2012 - 16:08

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