Central Bank Predicts Better Economic Performance

November 09, 2017

The Economic Research Department of the Central Bank of Sri Lanka (CBSL) predicts that the Sri Lankan economy is expected to perform better during the second half of the year as a result of the continued positive momentum of the Industry and Services sectors and the modest recovery in the Agriculture sector.

The CBSL, reviewing the present Monetary Policy, further said that although the economy remains vulnerable to supply-side disruptions stemming from weather related disturbances and rising global commodity prices, the implementation of the envisaged structural reforms and the realization of inflows of foreign investments over the medium term are expected to improve the resilience of the economy.

Meanwhile, the bank added that global economic activity is expected to strengthen further, according to the latest update of the World Economic Outlook of the International Monetary Fund (IMF) in October 2017, driven by improvements in global trade and manufacturing.

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