Sri Lanka should be less dependent on foreign borrowings; Central Bank

Thursday, 18 April 2013 - 12:32

Sri+Lanka+should+be+less+dependent+on+foreign+borrowings%3B+Central+Bank

 

The Central Bank said Sri Lanka should depend less on foreign capital to bridge a savings investment gap, to make the economy more resilient to external shocks.

Sri Lanka had an investment ratio of 30.6 percent of gross domestic product in 2012 but domestic savings were only 17 percent.

National savings were higher at 24 percent mostly due to remittance flows.

The Central Bank is projecting investments to rise to 33 percent of GDP by 2016 and domestic savings to 28.4 percent.



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