The Department of Census and Statistics(DCS) made available the National Accounts for the year 2016 on their website recently. The preface to the document was signed by Director General I R Bandara on December 27, 2019.
Bandara said, ‘In the year of 2015, the National Accounts Division of the DCS revised the base year from 2002 to 2010. In addition, to revising the base year from 2002 to 2010, in the compilation of National Accounts, many other improvements were also made, such as conceptual changes as recommended by the international guidelines.’
The report notes ‘The economic growth rate in the country for the year 2016, reported as 4.5 percent, indicating a slower growth rate when compared to the previous year.’
There had been a 31.3 percent reduction in the growth rate of rice in the economy for the period. The report notes ‘The drought and the unfavorable weather conditions prevailed in the country in the year 2016 has severely affected the paddy production, in both Yala and Maha seasons.’
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