Sri Lanka’s economy is gradually recovering – Central Bank Chief
Fri, Jul 12, 2019, 11:59 pm SL Time, ColomboPage News Desk, Sri Lanka.
July 12, Colombo: The Governor of Central Bank of Sri Lanka says that the economy of Sri Lanka is recovering gradually after the Easter attacks.
Governor of the Central Bank of Sri Lanka Dr. Indrajit Coomaraswamy said in a media briefing in Colombo Thursday that a surplus in the balance of payments was recorded for the first time in 10 years.
“Inflation eased slightly in June. In the next few months, it may increase slightly. However, inflation fluctuation was only within the range we expected.”
“For the first time in 10 years, in the first quarter of this year, there was a surplus in the balance of payments. It’s a good sign.”
The rupee appreciated by 4.1 percent against the dollar. Notably, exports continued to grow and imports fell sharply during the first four months of 2019.
The successful issuance of international sovereign bonds in June reflects investors’ continued confidence in Sri Lanka’s medium-term growth prospects. With the issuance of the bond, the gross official reserves at the end of June increased to US $ 8.9 billion.
The recovery of the tourism sector and the current performance of the export sector has created confidence in the recovery of the economy, he said.