‘Lanka’s economic growth impressive’

Kathpalia addressing the event. Picture by Saliya Rupasinghe

Sri Lanka's economic growth is very impressive and most of the other Asian economies too would have healthy growth since Euro crisis is now cooling.

Speaking at the Charted Accountants Sri Lanka together with RAM Ratings Lanka Ltd organized forum on ‘Rising Global Risks Cloud Asian Outlook,’ yesterday at Hilton Colombo Managing Director, South East Asia of Standard and Poors Rating Services, Surinder D Kathpalia said that in the the future, 'oil prices' would be the main challenge specially for India, China and Indonesia, where the oil consumption is high. He said that the tremors of the crisis was felt by some Asian countries last year.

“Having been through one of toughest phases in history, the world economy is recovering even though at a pace slower than initially predicted. The recession that badly hit most of the developed economies has challenged many western economic fundamentals which were deep-rooted for decades. While some of the re balancing acts triggered by the economic reconciliation process are in progress, new challenges and risks have surfaced making the situation more chaotic.

“The global economy is woven so tightly that no country could be completely immune to reverberations of such calamity.” (SS)