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Sri Lanka to publish accurate private savings number

Apr 10, 2013 (LBO) - Sri Lanka will consider publishing an accurate number for private savings from next year, separating out state enterprises which are lumped together as 'private' firms at the moment, officials said.
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Domestic savings are made up from central government savings, state enterprise and private entities. A deficit in the current account of the budget is net spending or 'dis-saving', and can be readily seen.

In 2012 the deficit in the current account was 1.


4 percent of gross domestic product, while the so-called private savings was 18.
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4 percent of GDP. Because the government was a net spender, domestic savings were reduced to 17.
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0 percent of GDP.

But inside the so-called private savings are also state enterprises which are running very large losses and contributing to dragging down private, domestic and also national savings, when losses exceed surpluses.

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"At the moment we have the classification central government and private sector," deputy Central Bank Governor Nandalal Weerasinghe told reporters and new briefing on Monday.

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"State owned enterprises come under the private sector.

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"

Weerasinghe said the central bank will be able to publish a separate numbers for state and privat

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