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Sri Lanka to grow 6.3-pct in 2017 with Chinese investments

ECONOMYNEXT – Sri Lanka’s growth will accelerate to 6.3 percent in 2017 from around 5.5 percent 2016 helped by expanding tourism, information technology, logistics and Chinese investments, the Central Bank said.

Growth is expected to go up to 7.0 percent in the medium term.

"The higher growth potential is envisaged to be achieved mainly through productivity
Improvements supported by the adoption of new technology across production sectors…" the Central Bank said in an pre-budget assessment of the economy.

A Colombo International Financial City and investments in Hambantota by China and projects in the Western Megapolis region would drive growth, the report said.

Budget deficits would be reduced and monetary policy kept prudent to maintain a stable economic conditions, the Central Bank said

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