IMF positive about Sri Lanka’s way forward

Saturday, 08 October 2016 - 14:20

The International Monetary Fund has said that Sri Lanka's economic momentum remains positive with GDP growth projected to be around 5%in 2016 and 2017.

The IMF in its latest Regional Economic Outlook Update for Asia Pacific Department said the Extended Fund Facility approved in June 2016 focuses on strengthening public finances to create space for Sri Lanka's social and development program.

The consumer prices are expected to rise by 4.1% in 2016.

The headline inflation is projected to rise by 5.3% in 2017 as the drag from low commodity prices wanes.

India is the fastest growing economy in the region with a GDP growth projected at 7.6%