Identify the Relationship between GDP and the Economic Infrastructure in Sri Lanka.

Abstract

Economic infrastructure development such as road and transportation networks, electricity, water, tele communication, air control towers, bridges, and so on, that is completed on time will aid in increasing economic efficiency while enhancing the economy's output capacity, facilitating productivity improvement and reducing regional disparities. These infrastructural systems, which demand significant upfront investments, are critical for an economy's productivity. The government either fully funds or greatly subsidizes the majority of initiatives. According to the Sustainable Development Report 2021, Sri Lanka ranked at 85 by overall performance of SDG. And the SDG9, Industry, Innovation and Infrastructure shows lowest average performance of SDG in Sri Lanka in 2021 The country's vast infrastructure development program helps to maintain high and sustainable growth in the medium and long term. Sri Lanka takes a major place among the developing countries of the world. Out of these, the Government of Sri Lanka is a pioneer in developing infrastructure for the betterment of the lives of the people and the country, comparing to other countries. With over 80% of Sri Lanka's population now residing in rural areas, mass transportation and renewable energy, as well as the creation of new businesses and information and communication technology, are becoming increasingly vital. Economic infrastructure contributes a significant amount of income to the country’s GDP. This study limited only to the economic infrastructures, transportation and telecommunication. The main objective is to identify the relationship between GDP and economic infrastructure. Specific objectives are identifying recent trends of economic growth and the government investment in infrastructure and to identify the problems and challengers on economic infrastructure during past years.