Economy to grow at 7% this year: Ravi Karunanayake

 

Finance Minister Ravi Karunanayake pointed out yesterday that Sri Lanka’s economy should grow by 7 % this year, up from 4.5 percent last year, while inflation will end the year far below market expectations.

Karunanayake said Sri Lanka would be able to quickly to refinance much of its foreign borrowing at lower cost after next week’s general election.

Commenting on the growth outlook, he said that Inflation would be “far lower” than consensus expectations among analysts of 2.7-3.2 percent at the end of the year.