IMF downgrades Sri Lanka's growth to 6.7 percent

by admin
Oct 9, 2012

The International Monetary Fund downgraded Sri Lanka's growth to 6.7 percent on Wednesday from the 6.8 expected by Sri Lanka's Central Bank, as inflation is expected to hit double figures at 10.1 percent by the end of this year.

The relatively conservative over-estimate by the Central Bank, came after it was forced to downgrade the initial 8 percent predicted forecast.

In 2010 and 2011, Sri Lanka had a growth of 8 percent and 8.3 percent respectively.

For 2013, the IMF predicted that Sri Lanka's growth would remain at 6.7 percent.

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