Sri Lanka to grow about 2 percent in 2Q: CB Governor

ECONOMYNEXT – Sri Lanka is expecting to grow about 2 percent in the second quarter and 3.1 percent for the full year, Central Bank Governor Indrajit Coomaraswamy said.

"Second quarter growth – tentatively – will be about 2 percent," Governor Coomraswamy told reporters in Colombo.

The official estimate would be released by the statistics office and the rate around 2 percent was based on currently available information.
Full year growth may be about 3.1 percent he said.

Easter Sunday blasts hit tourism and consumption, which was already hit by a collapse of the rupee and monetary instability in 2018.

Easter Sunday bomb attacks had made people stay off activity but agriculture and major industries continued to operate he said.

Sri Lanka has had slow growth in recent years amid no liberalizing reforms, price controls and monetary instability. (Colombo/Aug23/2019)