Sri Lanka’s Central Bank Governor Indrajit Coomaraswamy predicted that economic growth on the island would be just 4 percent for 2018, lower than previous estimates.
“This is not a formal estimate that I am giving you,” he told reporters, but if one is realistic, it is unlikely that growth will be more than 4 percent this year”.
“Our potential growth rate, we see as being 5.75 percent. So, there is a significant output gap,” he added.
Sri Lanka’s Central Bank had earlier predicted a 5-5.5 percent growth rate for 2018.
In 2017, the economy grew at just 3.1%, reportedly the slowest growth in 16 years.
Read more from AFP here and FT.lk here.