SL's economic growth 'projected to plunge'

Sunday, 29 March 2015 - 19:30

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The need for a deep robust financial sector for sustainable growth in Sri Lanka was highlighted by the Asian Development Bank’s recently released report ‘Asian Development Outlook 2015’.

It said that Sri Lanka’s economic growth is projected to plunge this year, before recovering next year, as political uncertainties are expected to disappear, paving the way for public and private investment to rebound and consumption to increase.

The report said that the GDP per capita was estimated at around of 3,700 US dollars in 2014, and the composition of GDP is likely to see a shift from investment to consumption in 2015.