Economic growth falls due to exit of foreign funds and lacklustre export market
Economic growth in Sri Lanka fell to 4.8 per cent in 2015 from 4.9 per cent in the previous year, with the slowdown attributed to a slowing export sector and foreigners taking away their funds from Sri Lanka owing to a stronger US economy, according to the Central Bank’s annual report for 2015 released on Tuesday.
“The impact of these developments was offset to some extent by lower international commodity prices,” the 2015 annual report said, according to The Sunday TImes.
Year-on-year headline inflation by end 2015 was recorded at 2.8 per cent, compared to 2.1 per cent at the end of 2014, the report further said.