Sri Lanka’s economic growth declined to 4.3% in the fourth quarter of 2008, down sharply from the 6.3% recorded in the third quarter of last year. At a media briefing this past week, the Director General of the Department of Census and Statistics Suranjana Vidyaratne said GDP growth for 2008 was 6%, down from 6..8% in 2007.
She attributed the growth decline in the fourth quarter of 2008 to the global financial crisis.
Ms. Vidyaratne also stated that the national per capital income had risen to US$2,014 in 2008 from US$1,034 in 2007. The inflation rate for 2008, based on GAP implicit price deflator was 16.3%, up from 14% the previous year. On March 31, the Central Bank is due to release its annual report for 2008.
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