Lankapage Logo Recent Top Stories
CP 14 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Sri Lanka's economy making steady progress - Central Bank Governor
Thu, Feb 21, 2013, 10:46 am SL Time, ColomboPage News Desk, Sri Lanka.

Feb 21, Colombo: Governor of Sri Lanka's Central Bank Ajith Nivard Cabraal says the country's economy is making steady progress in almost every macro-economic front.

Cabraal has told an English weekly newspaper in an interview that he would describe the country's status as stable and steady.

"Even in the midst of the global turmoil, Sri Lanka has been maintaining a high growth while our external sector has been stabilizing, with poverty, unemployment, reserve position and GDP growth being headed in the right direction. Recently, we have seen some escalation in inflation, but we are satisfied that it is due to supply side issues and not based on any demand pressures building up. We have also set a stage for an enhanced growth for the year 2013, and the pipeline of FDIs seems to be strong," he has explained.

He has noted that the diversification of the economy through the 5 Hub concept plus tourism is creating a large number of opportunities, and that too would provide the necessary expansion which would propel Sri Lanka in the journey to reach the US$ 4,000 per capita income and beyond.

"The banking sector too has shown a significant resilience and that also augurs well for the future," he has added.

As for the country's reserves, the Governor has said they are adequate for the current and immediate future needs of the country and that is why there does not seem to be any need for a further IMF support to build up reserves.



ColomboPage - Recent 10 Stories
Doubts raised on Pope's visit to Sri Lanka amid snap presidential polls
-- [17 minutes ago]
Opposition MPs say election materials are being prepared in Sri Lanka Port Authority Defense Training School
-- [46 minutes ago]
Sri Lanka to appeal to Europe Court of Justice on lower court ruling to lift sanctions on LTTE
-- [1 hour and 21 minutes ago]
Browns Hotels and Resorts of Sri Lanka to develop four-star hotel in Maldives
-- [3 hours ago]
India to supply two naval offshore patrol vessels to Sri Lanka - report
-- [3 hours ago]
Sri Lanka police use water cannons and tear gas to disperse university students' march
-- [4 hours ago]
Sri Lanka's Sinhala Buddhist extremist group to contest for the upcoming elections
-- [4 hours ago]
Sri Lanka External Affairs Minister defends ministry secretary against 'unfounded allegations'
-- [4 hours ago]
Iran calls for expanding politico-economic relations with Sri Lanka
-- [5 hours ago]
Opposition lawmakers on fact finding mission attacked in Sri Lanka

Copyright © 2000, 2012 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.