World Economy

Lanka Economy Grows 4% in Q2

Lanka Economy Grows 4% in Q2Lanka Economy Grows 4% in Q2

Sri Lanka’s economy showed some level of resilience during the second quarter as it weathered substantial natural and self-inflicted woes during the period to grow at a modest yet a respectable pace, reported. During the April-June quarter, Sri Lanka’s $81 billion economy is estimated to have grown by 4%, picking up from the 3.8% growth recorded for the same period in 2016, assisted by the resumption of construction activities and a number of new projects. As a result, for the first half of 2017, the economy grew by 3.9%, slightly below the target range of between 4% to 4.5% that is expected for the full year by the central bank. Sri Lankan economy faced headwinds in early 2015 mainly due to some self-inflicted damages making the macro-economic fundamentals feeble and had to seek the assistance of the International Monetary Fund for a rescue package to put the economy back on track.


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