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Government Gazette

SL on course to attain 8.5 pc growth

Sri Lanka is on course to achieve an economic growth of around 8.5 percent this year, External Affairs Minister Prof.G.L. Peiris told the diplomatic community in Colombo yesterday.

He said that the economy had shown a growth of 7.9 percent in the first quarter with the projected growth at the end of the year being 8.5 percent. “The prognosis for the rest of the year is very sound,” he added.

Predicting further impressive strides in the field of economy, the minister said that the country’s foreign reserves had risen to an unprecedented US $ eight billion plus.

The poverty has diminished to eight from 12 percent and the unemployment rate has come down to five percent. The inflation remains stable, he added.

The minister pointed out that the end of the conflict and rapid development taking place in the North and East had contributed immensely to enhancing Sri Lanka’s overall economic growth.

 

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