Will Sri Lanka be snared in a lower middle income trap before it reaches the middle income trap prop

Monday, 23 January 2012 00:00 - - {{hitsCtrl.values.hits}}

Sri Lanka has been harping on maintaining a continuous high economic growth, unabated and undiminished, over the next decade to elevate itself from its present status as a lower middle income country to that of a higher middle income country, just one notch below the cherished goal of becoming a rich nation. But a recent World Bank report on the Global Economic Prospects has warned of a potential downside risk for all developing countries to maintain high economic growth rates in the coming years due to the slowdown of the economies in Europe, North America and Japan.

Will Sri Lanka be snared in a lower middle income trap before it reaches the middle income trap prop

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