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Thursday, 01 March 2012 - 11:22
Inflation still at single digit level, growth 8.3 pc
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The Sri Lankan economy is estimated to have grown by around 8.3 per cent in 2011, recording the second consecutive year with an annual growth rate of 8 per cent or above for the first time in the post-independence history.

Year-on-year inflation has remained at single digit levels in the last 37 months, and in February 2012 inflation fell to 2.7 per cent.

Inflation is expected to continue to be at single digit levels in 2012, notwithstanding the recent adjustments to domestic energy prices.

The debt to GDP ratio is also projected to improve to below 79 per cent in 2011, the lowest after 1981.

With effect from February 9th, 2012, the Central Bank of Sri Lanka has intervened in the foreign exchange market mainly for the partial settlement of oil bills.

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