Sri Lanka’s economic growth now stands at 4 per cent of GDP and it may gain some momentum in the next few months to reach 4.5 at the end of this year, Central Bank Governor Dr. Indrajit Coomaraswamy told the Monetary Policy Review media conference in Colombo on Tuesday .
Sri Lanka's economic growth may be around 4.0 to 4.5 percent of gross domestic product in 2017, with higher growth in the second half, Dr.Coomaraswamy said.
Economic growth continued to be affected by extreme weather conditions and weak external demand. In terms of value addition, key growth drivers in the first half of the year were construction, mining and quarrying, financial service activities, and wholesale and retail trade.
He pointed out that there had been a slowdown in workers’ remittances to US$241 million in August and it could be attributed to the oil price decline adverse economic and geopolitical conditions prevailing in the Middle East.
This will not exert any impact on the economy he said adding that the government’s policy is to discourage the sending of female domestic workers to those countries.(Bandula)
A Sri Lanka Air Force Bell 212 helicopter belonging to the No. 72 squadron has crashed into the Madhuru Oya reservoir this morning, Air FOrce Media Spokesman Eranda Geeganage said.
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In its first electoral test since taking power, the ruling National People’s Power (NPP) fell short of expectations, winning only around 40 % of the national vote in Tuesday’s local government election and falling short of enough seats to gain control of the majority of councils.
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