Sri Lanka Gross domestic product (GDP) growth is expected to contract to around 1.0–1.5 percent in 2020
Sri Lanka’s economy slowed sharply in the first five months this year on the back of declining consumer demand and slowing private investment.
Gross domestic product (GDP) growth is expected to contract to around 1.0–1.5 percent in 2020 due to severe challenges created by COVID-19, Finance Ministry said.
With the revival of the domestic supply chain in agriculture and strong participation of private sector in electricity and telecommunication services and rebounding, in particular, the domestic tourism sector is expected to provide the impetus for recovery in the second half of 2020 and 2021
(LIN)