Skyline
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The Sri Lankan economy is expected to grow at more than eight percent next year, with inflation remaining at mid-single digit, while exports grow at 12.7 percent and the budget deficit expected to contract to 5.2 percent, the Central Bank said in its ‘Recent Economic Developments, highlights for 13 and prospects for 2014’ report launched recently.
"The Sri Lankan economy is projected to grow at a higher rate of around 8 per cent in 2014, supported by the recovery in the global economy, continued expansion of domestic economic activity and the impact of growth oriented policy measures adopted in 2013."
"Inflation is expected to remain at mid-single digit levels during 2014. However, a rebound in the growth of credit aggregates without a commensurate decline in credit to the public sector, and the possible strengthening of global commodity prices, aided by a gradual increase in global growth continue to pose upside risks to inflation in the period ahead."
"Domestic output is expected to increase in line with changing lifestyles of people and increasing penetration into global markets. In order to increase the production capacity of the country, investment activities are expected to expand continuously while greater emphasis on manufacturing output is also expected to stimulate demand for services such as trade, transportation, communication and banking. The expansion in tourism and related services is also expected to contribute to higher economic growth. Favourable weather conditions and continued government support are expected to raise output in the agriculture sector in 2014," the bank said
"With the gradual recovery of Sri Lanka’s main export markets in 2014, export earnings are expected to expand, while imports are envisaged to rise to cater to the demand created by an increase in production of exports and higher economic growth."
"Earnings from exports are expected to grow by 12.7 per cent to US dollars 11.2 billion in 2014. This growth will be driven by all three sectors. Industrial exports, which account for the largest share of exports, are expected to increase significantly. This growth is largely due to the expected recovery in the US and EU economies, which continue to be the main markets for Sri Lanka’s industrial exports."
"The expected gradual recovery in the global economy, improved infrastructure facilities, the gradual relaxation of capital controls and improved investor confidence amidst a stable macroeconomic environment are expected to yield a surplus in the BOP in 2014"
"As envisaged in the Medium Term Macro Fiscal Framework, further consolidation is expected in the fiscal sector, with the budget deficit expected to be reduced to 5.2 percent of GDP in 2014 from 5.8 per cent of GDP estimated for 2013."
"The Monetary Programme envisages broad money to grow by 15 per cent in 2014, driven by a pickup in credit to the private sector, while credit granted to the public sector is projected to moderate."
-MA
The Island
"The Sri Lankan economy is projected to grow at a higher rate of around 8 per cent in 2014, supported by the recovery in the global economy, continued expansion of domestic economic activity and the impact of growth oriented policy measures adopted in 2013."
"Inflation is expected to remain at mid-single digit levels during 2014. However, a rebound in the growth of credit aggregates without a commensurate decline in credit to the public sector, and the possible strengthening of global commodity prices, aided by a gradual increase in global growth continue to pose upside risks to inflation in the period ahead."
"Domestic output is expected to increase in line with changing lifestyles of people and increasing penetration into global markets. In order to increase the production capacity of the country, investment activities are expected to expand continuously while greater emphasis on manufacturing output is also expected to stimulate demand for services such as trade, transportation, communication and banking. The expansion in tourism and related services is also expected to contribute to higher economic growth. Favourable weather conditions and continued government support are expected to raise output in the agriculture sector in 2014," the bank said
"With the gradual recovery of Sri Lanka’s main export markets in 2014, export earnings are expected to expand, while imports are envisaged to rise to cater to the demand created by an increase in production of exports and higher economic growth."
"Earnings from exports are expected to grow by 12.7 per cent to US dollars 11.2 billion in 2014. This growth will be driven by all three sectors. Industrial exports, which account for the largest share of exports, are expected to increase significantly. This growth is largely due to the expected recovery in the US and EU economies, which continue to be the main markets for Sri Lanka’s industrial exports."
"The expected gradual recovery in the global economy, improved infrastructure facilities, the gradual relaxation of capital controls and improved investor confidence amidst a stable macroeconomic environment are expected to yield a surplus in the BOP in 2014"
"As envisaged in the Medium Term Macro Fiscal Framework, further consolidation is expected in the fiscal sector, with the budget deficit expected to be reduced to 5.2 percent of GDP in 2014 from 5.8 per cent of GDP estimated for 2013."
"The Monetary Programme envisages broad money to grow by 15 per cent in 2014, driven by a pickup in credit to the private sector, while credit granted to the public sector is projected to moderate."
-MA
The Island
