CB revises down GDP growth goal to 7.2%

Friday, 15 November 2013 05:51 - - {{hitsCtrl.values.hits}}

Reuters: Sri Lanka’s 2013 economic growth will stand at a minimum of 7.2%, the Central Bank Governor said on Thursday, down from an earlier forecast of 7.5%. “The growth will be between 7.2 to 7.3%,” Governor Ajith Nivard Cabraal told Reuters. “The fourth quarter growth will be led by the construction and tourism sectors.” The Central Bank had estimated the $59 billion economy would expand at 7.5% this year after it cooled to a three-year low of 6.4% last year, following a record 8.3% in 2011. On Thursday, statistics office data showed the economy expanded 7.8% in the third quarter of 2013 year-on-year, the highest quarterly growth since the first quarter of 2012 and picking up from 6.8% in the previous three months.

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