Arab Today, arab today sri lanka to sustain over 8 growth
Last Updated : GMT 14:19:45
Arab Today, arab today
Arab Today, arab today

Sri Lanka to sustain over 8% growth

Arab Today, arab today

Arab Today, arab today Sri Lanka to sustain over 8% growth

Colombo - Arabstoday

Having recorded its highest ever post-independence growth of 8.3 per cent, Sri Lanka’s economy is likely to experience a year of ‘moderation and consolidation’ in 2012, the Central Bank forecast on Monday. The bottlenecks faced in the key economic sectors were addressed through strong policy reactions in early 2012, the bank said in it annual report for 2011, adding these were the new measures to depreciate the rupee and to raise import taxes aimed at tackling the a widening trade deficit. “These policy measures along with uncertain global developments are likely to have some adverse transient effect on prices this year,” CB said. The Central Bank has already lowered its 2012 growth projection to 7.2 per cent from a forecast of 8.0 per cent made last year. The island’s per capita income has increased to $2,836 from 2,400 in 2011. Inflation at 6.7 per cent remained subdued at single digit levels for the third year in succession and unemployment had dropped to a record 4.2 per cent. Foreign direct investment has exceeded $1 billion for the first time. Account deficit Sri Lanka could swing to a surplus of $1.2 billion in its balance of payments this year on higher exports and a doubling in foreign investment, the central bank said on Monday. That would mark a big reversal from last year’s deficit of $1 billion, created in part after the CB spent more than $2.7 billion in the second half trying to stem depreciation pressure on the rupee. To avert a balance-of-payments crisis, the CB adopted a more flexible exchange rate policy in February and has raised interest rates to their highest levels in more than two years. “Sri Lanka could see a balance-of-payments surplus of $1.2 billion this year if the measures we have taken work,” CB Governor Ajith Nivard Cabraal said at a gathering to mark the release of the bank’s annual report for 2011. “Our foreign currency reserves are also on a rising trend and are now over $6.1 billion and that is a comfortable level,” he told a news conference after the report was released. “FDI inflows remain significantly below potential level and the country is yet to establish itself as a key destination for new FDIs,” CB said. Tourism, a key area of focus since the war with the LTTE ended three years ago, had recorded 850,000 arrivals with $830 million as earnings.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today sri lanka to sustain over 8 growth Arab Today, arab today sri lanka to sustain over 8 growth

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims

GMT 05:15 2017 Tuesday ,21 February

Gold firms as markets await Trump tax plans

GMT 04:58 2017 Tuesday ,21 February

EU, IMF in ‘common position’ on Greece crisis

GMT 14:57 2017 Monday ,20 February

A giant initial public offering on track

GMT 14:50 2017 Monday ,20 February

Energy Market Research

GMT 09:38 2017 Monday ,20 February

Japan returns to trade deficit in January
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday