Foreign inflows fuel SL recovery - CB

Friday, 20 September 2013 - 7:54

Foreign+inflows+fuel+SL+recovery+-+CB

 

The central bank said Sri Lanka’s economy grew 6.8 percent in the second quarter, up from 6.0 percent last year thanks to foreign cash inflows which helped a recovery.

The strong economic activity in the three month period ending June showed Sri Lanka was on track to achieve a growth rate of 7.5 percent in calendar 2013, up from 6.4 percent in 2012.

In its monthly policy review, the bank said foreign inflows from tourism, workers’ remittances, foreign direct investments and foreign loans to local banks contributed to economic expansion.