Thursday November 15, 2018
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Ageing population makes Sri Lanka’s welfare programs unaffordable: World Bank

Oct 16, 2018 13:44 PM GMT+0530 | 1 Comment(s)

ECONOMYNEXT – An ageing population could soon make Sri Lanka’s generous social programs unaffordable, a new World Bank report said.

Sri Lanka is the only ageing society in South Asia, the World Bank said in its South Asia ‘Economic Focus’ report.

“With older populations come higher health care costs and larger spending on public pensions,” it said.

“Population ageing could make the country’s generous social programs unaffordable in a not-so-distant future.”

The World Bank also said much job creation has been in the public sector, which puts additional pressure on government spending.

“Sri Lanka thus needs to keep social programs affordable. It also needs to increase tax revenues, which until recently were steadily declining relative to GDP.”
(COLOMBO, 16 Octber, 2018)
 


 

1 Comments

  1. Citizen Lanka October 16, 09:40 AM

    All B.S. The older generation getting a pension are only those who had worked in the public service for over 25 years.
    They do not get free health care as suggested.
    Free healthcare is used by politicians who get a thumping pension after five years in parliament.
    They don't pay taxes, get benefits, duty free permits worth over USD 200K, subsidised food and utilities.
    Sadly the WB is not talking about them as their survival in the country depends on the politicians with China been around the corner.

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