Sri Lanka’s Finance Minister says country’s economic growth will not fall below 2019 targets
Finance Minister of Sri Lanka, Mangala Samaraweera says that the country’s economic growth will not fall below targets in 2019 despite fallout from the Easter Sunday attacks.
“The growth outlook for this year has not dimmed at all,” the Minister has been quoted as saying on Monday (10) evening at the Finance Ministry.
“Although the tourism industry is facing a downturn, by the end of this year, I believe that will return to normal,” Samaraweera has said.
Meanwhile, Governor of the Central Bank of Sri Lanka, Indrajit Coomaraswamy had said a 2018 growth target of 4 percent is like to be missed partly due to Easter Sunday attacks, though first quarter growth will be helped by a recovery in agriculture.
OSL take:
The statement by the Finance Minister of Sri Lanka adds to the confidence levels of foreign companies looking at doing business with the island nation. Despite the blow to the country’s economy following the Easter Sunday attacks, the goodwill among the international community towards Sri Lanka as well as the support extended by Sri Lanka’s neighbouring India have undoubtedly helped the country to return to normalcy. The government of Sri Lanka has also introduced incentives for investors. Therefore, foreign businesses/investors could explore business/investment opportunities in Sri Lanka with confidence.
| Article Code : | VBS/AT/12062019/Z_7 |