New Governor of Central Bank of Sri Lanka predicts 5% growth for 2021
Newly appointed Central Bank of Sri Lanka (CBSL) Governor, Ajith Nivard Cabraal has predicted a 5% growth for 2021 was likely to be a reality.
Cabraal has stated that this target would be achieved despite the on-going vaccination drive, and mobility restrictions being relaxed.
The Governor has hinted on the growth number in a tweet soon after assuming duties as the Central Bank Governor.
He has made this observation in response to the announcement of a second quarter GDP growth rate of 12.3% by Sri Lanka’s Department of Census and Statistics.
OSL take:
Sri Lanka has shown strong economic resilience in the face of challenges posed by the global Covid 19 pandemic. Many economic sectors in the country have shown a growth momentum despite pandemic challenges while many private sector companies have also posted impressive profits despite external and internal pressures. The banking sector has also shown profits ensuring a strong banking sector to support the country’s ongoing development programme and economic expansion. With Sri Lanka working towards becoming a business destination in the South Asian region, foreign businesses/investors could confidently explore the growing business/investment opportunities in the country.
| Article Code : | VBS/AT/23092021/Z_8 |