Sri Lanka’s economic (GDP) growth in Sri Lanka is expected to ‘decelerate’ by around 1.5 per cent in 2020 from a growth of 2.3 per cent in 2019, before the economy recovers to attain its envisaged potential over the medium term, according to the Central Bank.
The bank in a section titled “COVID-19 and Sri Lanka: Challenges, Policy Responses and Outlook” contained in the CB annual report for 2019 released on Tuesday said that “through various direct and indirect channels, including the ongoing diversion of additional financial resources to support economic activity, the COVID-19 pandemic will adversely impact the progress of the economy during the year, contrary to previous expectations of a rebound in economic growth”.
The UK government has unveiled a package of reforms to simplify imports from developing countries which allows for more garments manufactured in Sri Lanka to enter the UK tariff-free.
Read these and more on tomorrow’s edition of the Sunday Times
Cabinet has approved the appointment of Commodore (retired) M.B.N.A. Premaratne of the Sri Lanka Navy, as the new Commissioner General of Excise.
Villagers in Nirmalapura, Daluwa, Norochcholai today staged a protest over an incident where a group of Navy officials and sailors had assaulted a resident in the area over night, Police said.
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