Written by Staff Writer
06 Apr, 2019 | 7:57 pm
Colombo (News 1st): While the leaders of Sri Lanka are busy branding the island as one of the most corrupt states in the world, other countries who were on par with Sri Lanka in the past have strategically upgraded themselves to the status of developed nations.
In other words, the world has moved forward while we are lagging behind. Here’s a good example.
In 1960, both Sri Lanka’s and South Korea’s per capita GDP stood at US$ 142.2 and US$ 158.2 respectively.
On the other hand, South Korea’s per capita GDP had increased by approximately 600%, and in less than a decade had reached US$ 6516.
By 2000, South Korea’s per capita GDP had almost doubled to US$ 11,947, while Sri Lanka still lagged behind at US$ 870.
By 2017 Sri Lanka’s per capita GDP stood at US$ 4065.20, which was only one-seventh of South Korea’s Per capita GDP of US$ 29,742.
Since the 1960s, South Korea’s per capita GDP has increased by 187 %, while Sri Lanka’s per capita GDP has increased by only 27.46%.
While South Korea has made significant strides in its socio-economic march resulting in a system that is determined to uphold the rule of law and fight corruption, jailing in its process four heads of state, Sri Lanka struggles with endemic corruption and a faltering legal system.
Today, this is where Sri Lanka stands.
03 Dec, 2021 | 05:43 AM
02 Dec, 2021 | 07:18 PM
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