Sri Lanka economic growth not dented despite Easter attacks: FinMin
Jun 11, 2019 06:32 AM GMT+0530 | 0 Comment(s)
ECONOMYNEXT - Sri Lanka's economic growth will not fall below targets in 2019 despite fallout from the Easter Sunday terror, Finance Minister Mangala Samaraweera said.
"The growth outlook for this year has not dimmed at all," he said in Sinhalese at the Finance Ministry Monday evening.
"Although the tourism industry is facing a downturn, by the end of this year, I believe that will return to normal," he said.
Central Bank Governor Indrajit Coomaraswamy, however had said an a 2018 growth target of 4 percent is like to be missed partly due to Easter Sunday attacks, though first quarter growth will be helped by a recovery in agriculture.
Sri Lanka credit had slowed after the collapse of a rupee in 2018, after the central bank cut rates in early 2018 to engage in de facto inflation targeting with a peg. (Colombo/Jun10/2019