Sri Lanka’s Economic Growth continue taking over the region – ADB

By Vinayak on Wednesday, September 4, 2013 with 0 comments

Jul 16, 2013 (SLBO) - In South Asia, Sri Lanka continues to grow strongly while other parts of the region will see softer than anticipated growth, the recent Economic Outlook by Asian Development Bank (ADB) notes.
                                            Southern Expressway
                                            Photo courtesy: Sunday Observer

Whilst South Asia is paced to grow by 5.6% in 2013 and 6.2% in 2014, ADB in its latest Development Outlook for Asia published in July notes that Sri Lankan economy is forecast to grow by 6.8% in 2013 on the back of a strong performance in the first quarter of the year.

The recent publication of ADB also note that Sri Lanka’s healthy growth in 2013 and acceleration to 7.2% in 2014 will be supported by further monetary easing and improved electricity generation that will power growth in domestic industry.
It also notes that by contrast, Afghanistan, Bangladesh, Nepal, and Pakistan are expected to report softer growth in 2013 than in 2012, as some of these countries face political transitions that could hamper economic policy making.
The Report notes further South Asia sub-region is expected to expand by 5.6% in 2013 marginally less than the Asiain Development Outlook (ADO) 2013 projection of 5.7%) and pick up momentum to post 6.2% growth in 2014. Read More - SLBO.LK

Category: Global Trends



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