GSP + gains won’t impact Sri Lanka’s growth on a major scale this year but prospects in the long term are positive, says Fitch Ratings.
“There won’t be a major pickup in growth from GSP +,” Sagarika Chandra, Associate Director in Fitch’s Sovereign Ratings Team told reporters on Wednesday in Colombo. She said that Fitch's forecasts are based on demand from the European Union (EU). "We are also not taking a strong position on the GSP+ gains as Sri Lanka also has to compete with other countries," Ms. Chandra said noting that owing to adjustments that Brexit, United Kingdom's (the largest apparel market for the country) withdrawal from the European Union has to still make, factoring GSP+ gains for Sri Lanka is too early. (DE)
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.
Read this week’s Sunday Times for your interesting articles including the ’’5th Column’’.
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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