Wednesday December 12, 2018

Sri Lanka expects growth to speed up in 2019

Nov 15, 2018 07:10 AM GMT+0530 | 0 Comment(s)

ECONOMYNEXT- Sri Lanka's economy could accelerate over 4.0 to 4.5 percent in 2019, from an expected 3.6 percent in 2018, Central Bank Governor Indrajit Coomaraswamy said.

"The growth for this year is likely to be around 3.6 percent," Governor Indrajit Coomaraswamy told reporters.

He said that there is a significant output gap, but forward looking surveys show businesses having less confidence in the economy.

However, he said that in 2019, growth could accelerate to 4-4.5 percent.

According to the Central Bank, Sri Lanka's potential for growth is at around 5.75 percent.

The economy had grown at 3.6 percent for the first half of 2018. (Colombo/Nov15/2018)


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