Sri Lanka targets 04-pct inflation in 2017
ECONOMYNEXT – Sri Lanka’s government expects to contain inflation at 4.0% in 2017, the same as projected for this year, according to finance ministry proposals for next year’s budget.
The Department of National Budget will start the consultation process with spending agencies on the 2017 budget in the first week of august 2016, the ministry has said.
The unemployment rate in 2017 is estimated at 4.5% slightly lower than the 4.6% in 2015, according to macro-economic targets set for next year.
The government aims to achieve public investment as a percentage of GDP of 5.0% next year.
The central bank has said it expects to generate 4.0% average inflation in 2016, up from 2.8% in the 12-month to December 2015, much lower than the double digit inflation it used to generate.
(COLOMBO, July 21, 2016)