Press briefing of Cabinet Decision taken on 2022-05-30

Calculation of Gross Domestic Product (GDP)

- Taking into consideration the matters such as ascertaining the real structure of the economy accurately, calculating the economic growth of the country more accurately and adhering to the new recommendations and methodologies imposed by the international agencies who are responsible for national Accounts Statistics, the Department of Census and Statistics update the base year of making National Accounts Estimates once in every five years. Accordingly, it has been decided to apply the year 2015 as the base year in lieu of 2010 which is currently being used in preparation of National Accounts. The Department of Census and Statistics has prepared Quarterly and Annual National Accounts Estimates from the year 2015 to 2021 utilizing the year 2015 as the base year. Accordingly, the Cabinet decided to grant its concurrence to the proposal made by the Hon. Prime Minister in his capacity as the Minister of Finance, Economic Stabilization & National Policies to publish the said Reports and to issue National Accounts Estimates from the first quarter 2022 onwards under the new base year of 2015.