Sri Lanka GDP to grow 6-pct in 2021: Central Bank

ECONOMYNEXT – Sri Lanka’s gross domestic product is projected to grow 6.0 percent in 2021 recovering from a 3.9 percent slump in 2020, Central Bank’s Director of Economic Research Chandranath Amarasekara said.

“On top the contraction we now expect the economy to record a growth of 6 percent,” Amarasekara told reporters Tuesday.

“The base effect is a key factor.”

Governor W D Lakshman said ongoing monetary and fiscal stimulus and improving business confidence would help drive growth.

“Recent purchasing manager index shows confidence on an uptrend,” Amarasekara said. “We have seen stock indices hitting near 8,000 points.

“Sri Lanka sovereign bond yields are also improving in the global market.”

Sri Lanka’s stock market hit almost 8,000 points and is going through some profit taking.

Sri Lanka is also re-opening tourism markets under some restrictions from January 21 with a ceiling of 2,500 tourists a day. (Colombo/Jan19/2021)

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