• Latest
  • Trending

In 2017 Sri Lankan economy grew at the lowest rate in 16 years, says Central Bank

April 29, 2018
Touching scenes at churches and graveyards as Sri Lankans marked the second anniversary of the April 21, 2019 bombings

Touching scenes at churches and graveyards as Sri Lankans marked the second anniversary of the April 21, 2019 bombings

April 22, 2021
President Arif Alvi appeals to Lankans to visit Buddhist sites in Pakistan

President Arif Alvi appeals to Lankans to visit Buddhist sites in Pakistan

April 22, 2021
Image credits - Mc Donalds

McDonald’s to release BTS Meal in nearly 50 countries, including Singapore

April 22, 2021
Whatsapp. Image credits - Christian Wiediger / Unsplash

WhatsApp Pink is a new virus targeting WhatsApp users, can take complete control over victim’s phone

April 22, 2021
Twitter. Image credits - Claudio Schwarz | @purzlbaum / Unsplash

Twitter becomes platform of hope amid the despair of India’s Covid-19 crisis

April 22, 2021
Oxygen. Image credits - Matt Chesin / Unsplash

Oxygen leak kills 22 patients as India’s daily infection rate nears 300,000

April 22, 2021
Image credits - srilankan.com

UL planning fully sponsored VVIP flight to Nairobi next week?

April 22, 2021
Image credits - Fusion Medical Animation @fusion_medical_animation / Unsplash

Legal action on violators of health guidelines in Sri Lanka; 516 cases reported

April 22, 2021
Sri Lanka orders Antigua-registered vessel with radioactive cargo out of Hambantota port

Sri Lanka orders Antigua-registered vessel with radioactive cargo out of Hambantota port

April 22, 2021
Lankan monks on pilgrimage in Pakistan

Lankan monks on pilgrimage in Pakistan

April 21, 2021
Indian envoy pays homage to Easter Sunday dead at St.Anthony’s church in Colombo

Indian envoy pays homage to bomb blast victims at St.Anthony’s church in Colombo

April 21, 2021
Stiff opposition to stripping civic rights of Lankan opposition leaders

Stiff opposition to stripping civic rights of Lankan opposition leaders

April 22, 2021
  • About Us
  • Advertisements
  • Privacy Policy
  • Contact
Thursday, April 22, 2021
  • Login
  • Register
No Result
View All Result
NewsIn.Asia
  • Home
  • Around South Asia
    • All
    • Afghanistan
    • Bangladesh
    • Bhutan
    • China
    • India
    • Maldives
    • Myanmar
    • Nepal
    • Pakistan
    • Sri Lanka
    Touching scenes at churches and graveyards as Sri Lankans marked the second anniversary of the April 21, 2019 bombings

    Touching scenes at churches and graveyards as Sri Lankans marked the second anniversary of the April 21, 2019 bombings

    President Arif Alvi appeals to Lankans to visit Buddhist sites in Pakistan

    President Arif Alvi appeals to Lankans to visit Buddhist sites in Pakistan

    Twitter. Image credits - Claudio Schwarz | @purzlbaum / Unsplash

    Twitter becomes platform of hope amid the despair of India’s Covid-19 crisis

    Oxygen. Image credits - Matt Chesin / Unsplash

    Oxygen leak kills 22 patients as India’s daily infection rate nears 300,000

    Image credits - srilankan.com

    UL planning fully sponsored VVIP flight to Nairobi next week?

    Image credits - Fusion Medical Animation @fusion_medical_animation / Unsplash

    Legal action on violators of health guidelines in Sri Lanka; 516 cases reported

    Sri Lanka orders Antigua-registered vessel with radioactive cargo out of Hambantota port

    Sri Lanka orders Antigua-registered vessel with radioactive cargo out of Hambantota port

    Lankan monks on pilgrimage in Pakistan

    Lankan monks on pilgrimage in Pakistan

    Indian envoy pays homage to Easter Sunday dead at St.Anthony’s church in Colombo

    Indian envoy pays homage to bomb blast victims at St.Anthony’s church in Colombo

  • World
    • All
    • Japan
    • Russia
    • United States
    Image credits - Mc Donalds

    McDonald’s to release BTS Meal in nearly 50 countries, including Singapore

    Whatsapp. Image credits - Christian Wiediger / Unsplash

    WhatsApp Pink is a new virus targeting WhatsApp users, can take complete control over victim’s phone

    Image credits - Laurenz Heymann / Unsplash

    Apple’s ‘Spring loaded’ event: The six biggest announcements

    Image credits - Who’s Denilo ? @whoisdenilo / Unsplash

    Football: English Premier League clubs pull out of European Super League plan after outcry

    Britain's Queen Elizabeth II and her husband, Britain's Prince Philip, Duke of Edinburgh walk at Broadlands, Hampshire, in 2007.PHOTO: AFP

    Queen Elizabeth marks 95th birthday, days after husband Prince Philip’s funeral

    Image credits - Gayatri Malhotra / Unsplash

    Minneapolis jury convicts ex-policeman Derek Chauvin of murdering George Floyd

    US dithers on gun control despite mounting deaths due to gun culture

    US dithers on gun control despite mounting deaths due to gun culture

    Image credits - Pierpaolo Riondato @rynocerontem / Unsplash

    Man orders apples online, gets an iPhone

    Image credits - Sophie Walsh @sophie_walsh9 / @9NewsAUS, Twitter

    Hugs, tears as New Zealand-Australia travel bubble opens

  • Business
  • Politics
  • Sports
  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    • Series
    Image credits - Variety / BAFTAImage credits - Variety / BAFTA

    BAFTA Awards 2021: See the full list of winners

    The name of Farhan Akhtar's Marvel project was not revealed. (Photo: Farhan Akhtar/Instagram)

    Farhan Akhtar shooting for secret Marvel project in Thailand

    SAG Awards 2019. Rob Latour/REX/Shutterstock

    Key winners at the 2021 Screen Actors Guild Awards

    The tragic life of Bollywood’s ethereal beauty

    The tragic life of Bollywood’s ethereal beauty

    © Photograph: Chris Pizzello/Invision/AP Busy … George RR Martin.

    George RR Martin signs five-year, eight-figure deal for more HBO projects

    Art across the Palk Strait

    Art across the Palk Strait

    Marvel - Black Widow

    Marvel couldn’t wait any longer to kick off its next phase of movies and shows

    Image credits - Glenn Carstens-Peters / Unsplash

    Amazon Prime Video to produce its first Bollywood film in India

    Image credits - The Verge

    Justice League: After four years and countless tweets, the Snyder Cut is here

  • Lifestyle
    • All
    • Fashion
    • Food
    • Health
    • Science
    • Travel
    Image credits - Mc Donalds

    McDonald’s to release BTS Meal in nearly 50 countries, including Singapore

    Trust in Chinese vaccines gives European countries head start in global inoculation race

    Trust in Chinese vaccines gives European countries head start in global inoculation race

    Mask. Image credits - Vera Davidova / Unsplash

    How often do you wash your mask? This is how a mask worn for 6 hours looks like

    Image credits - © SuitX Exoskeletons give the wearer more power and endurance

    The ‘Iron Man’ body armour many of us may soon be wearing

    Image credits - Rachel Park / Unsplash

    10 benefits of fasting that will surprise you

    Pakistani dates tickle Lankan taste buds

    Pakistani dates tickle Lankan taste buds

    Image credits - Adam Gonzales / Unsplash

    Singapore becomes a global cruise leader, for now

    Covid-19. Image credits - Hakan Nural / Unsplash

    Clear link between AstraZeneca vaccine and rare blood clots in brain, EMA official tells paper

    Image credits - Lukas Blazek / Unsplash

    Is Big Tech going off remote working?

    Image credits - JC Gellidon / Unsplash

    A third of COVID survivors suffer neurological or mental disorders: study

    Trending Tags

    • Golden Globes
    • Mr. Robot
    • MotoGP 2017
    • Climate Change
    • Flat Earth
  • Tech
    Whatsapp. Image credits - Christian Wiediger / Unsplash

    WhatsApp Pink is a new virus targeting WhatsApp users, can take complete control over victim’s phone

    Twitter. Image credits - Claudio Schwarz | @purzlbaum / Unsplash

    Twitter becomes platform of hope amid the despair of India’s Covid-19 crisis

    Image credits - Laurenz Heymann / Unsplash

    Apple’s ‘Spring loaded’ event: The six biggest announcements

    Facebook. Image credits - Solen Feyissa @solenfeyissa

    Facebook delays decision on lifting Trump ban

    © Getty Images Geschke set up Adobe in 1982

    Adobe co-founder who helped develop the PDF dies

    Image credits - Neil Soni @neilsoniphotography / Unsplash

    iPhone users get two major features on WhatsApp that Android users don’t have

    Trending Tags

    • Sillicon Valley
    • Climate Change
    • Election Results
    • Flat Earth
    • Golden Globes
    • MotoGP 2017
    • Mr. Robot
  • Coronavirus
  • Home
  • Around South Asia
    • All
    • Afghanistan
    • Bangladesh
    • Bhutan
    • China
    • India
    • Maldives
    • Myanmar
    • Nepal
    • Pakistan
    • Sri Lanka
    Touching scenes at churches and graveyards as Sri Lankans marked the second anniversary of the April 21, 2019 bombings

    Touching scenes at churches and graveyards as Sri Lankans marked the second anniversary of the April 21, 2019 bombings

    President Arif Alvi appeals to Lankans to visit Buddhist sites in Pakistan

    President Arif Alvi appeals to Lankans to visit Buddhist sites in Pakistan

    Twitter. Image credits - Claudio Schwarz | @purzlbaum / Unsplash

    Twitter becomes platform of hope amid the despair of India’s Covid-19 crisis

    Oxygen. Image credits - Matt Chesin / Unsplash

    Oxygen leak kills 22 patients as India’s daily infection rate nears 300,000

    Image credits - srilankan.com

    UL planning fully sponsored VVIP flight to Nairobi next week?

    Image credits - Fusion Medical Animation @fusion_medical_animation / Unsplash

    Legal action on violators of health guidelines in Sri Lanka; 516 cases reported

    Sri Lanka orders Antigua-registered vessel with radioactive cargo out of Hambantota port

    Sri Lanka orders Antigua-registered vessel with radioactive cargo out of Hambantota port

    Lankan monks on pilgrimage in Pakistan

    Lankan monks on pilgrimage in Pakistan

    Indian envoy pays homage to Easter Sunday dead at St.Anthony’s church in Colombo

    Indian envoy pays homage to bomb blast victims at St.Anthony’s church in Colombo

  • World
    • All
    • Japan
    • Russia
    • United States
    Image credits - Mc Donalds

    McDonald’s to release BTS Meal in nearly 50 countries, including Singapore

    Whatsapp. Image credits - Christian Wiediger / Unsplash

    WhatsApp Pink is a new virus targeting WhatsApp users, can take complete control over victim’s phone

    Image credits - Laurenz Heymann / Unsplash

    Apple’s ‘Spring loaded’ event: The six biggest announcements

    Image credits - Who’s Denilo ? @whoisdenilo / Unsplash

    Football: English Premier League clubs pull out of European Super League plan after outcry

    Britain's Queen Elizabeth II and her husband, Britain's Prince Philip, Duke of Edinburgh walk at Broadlands, Hampshire, in 2007.PHOTO: AFP

    Queen Elizabeth marks 95th birthday, days after husband Prince Philip’s funeral

    Image credits - Gayatri Malhotra / Unsplash

    Minneapolis jury convicts ex-policeman Derek Chauvin of murdering George Floyd

    US dithers on gun control despite mounting deaths due to gun culture

    US dithers on gun control despite mounting deaths due to gun culture

    Image credits - Pierpaolo Riondato @rynocerontem / Unsplash

    Man orders apples online, gets an iPhone

    Image credits - Sophie Walsh @sophie_walsh9 / @9NewsAUS, Twitter

    Hugs, tears as New Zealand-Australia travel bubble opens

  • Business
  • Politics
  • Sports
  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    • Series
    Image credits - Variety / BAFTAImage credits - Variety / BAFTA

    BAFTA Awards 2021: See the full list of winners

    The name of Farhan Akhtar's Marvel project was not revealed. (Photo: Farhan Akhtar/Instagram)

    Farhan Akhtar shooting for secret Marvel project in Thailand

    SAG Awards 2019. Rob Latour/REX/Shutterstock

    Key winners at the 2021 Screen Actors Guild Awards

    The tragic life of Bollywood’s ethereal beauty

    The tragic life of Bollywood’s ethereal beauty

    © Photograph: Chris Pizzello/Invision/AP Busy … George RR Martin.

    George RR Martin signs five-year, eight-figure deal for more HBO projects

    Art across the Palk Strait

    Art across the Palk Strait

    Marvel - Black Widow

    Marvel couldn’t wait any longer to kick off its next phase of movies and shows

    Image credits - Glenn Carstens-Peters / Unsplash

    Amazon Prime Video to produce its first Bollywood film in India

    Image credits - The Verge

    Justice League: After four years and countless tweets, the Snyder Cut is here

  • Lifestyle
    • All
    • Fashion
    • Food
    • Health
    • Science
    • Travel
    Image credits - Mc Donalds

    McDonald’s to release BTS Meal in nearly 50 countries, including Singapore

    Trust in Chinese vaccines gives European countries head start in global inoculation race

    Trust in Chinese vaccines gives European countries head start in global inoculation race

    Mask. Image credits - Vera Davidova / Unsplash

    How often do you wash your mask? This is how a mask worn for 6 hours looks like

    Image credits - © SuitX Exoskeletons give the wearer more power and endurance

    The ‘Iron Man’ body armour many of us may soon be wearing

    Image credits - Rachel Park / Unsplash

    10 benefits of fasting that will surprise you

    Pakistani dates tickle Lankan taste buds

    Pakistani dates tickle Lankan taste buds

    Image credits - Adam Gonzales / Unsplash

    Singapore becomes a global cruise leader, for now

    Covid-19. Image credits - Hakan Nural / Unsplash

    Clear link between AstraZeneca vaccine and rare blood clots in brain, EMA official tells paper

    Image credits - Lukas Blazek / Unsplash

    Is Big Tech going off remote working?

    Image credits - JC Gellidon / Unsplash

    A third of COVID survivors suffer neurological or mental disorders: study

    Trending Tags

    • Golden Globes
    • Mr. Robot
    • MotoGP 2017
    • Climate Change
    • Flat Earth
  • Tech
    Whatsapp. Image credits - Christian Wiediger / Unsplash

    WhatsApp Pink is a new virus targeting WhatsApp users, can take complete control over victim’s phone

    Twitter. Image credits - Claudio Schwarz | @purzlbaum / Unsplash

    Twitter becomes platform of hope amid the despair of India’s Covid-19 crisis

    Image credits - Laurenz Heymann / Unsplash

    Apple’s ‘Spring loaded’ event: The six biggest announcements

    Facebook. Image credits - Solen Feyissa @solenfeyissa

    Facebook delays decision on lifting Trump ban

    © Getty Images Geschke set up Adobe in 1982

    Adobe co-founder who helped develop the PDF dies

    Image credits - Neil Soni @neilsoniphotography / Unsplash

    iPhone users get two major features on WhatsApp that Android users don’t have

    Trending Tags

    • Sillicon Valley
    • Climate Change
    • Election Results
    • Flat Earth
    • Golden Globes
    • MotoGP 2017
    • Mr. Robot
  • Coronavirus
No Result
View All Result
NewsIn.Asia
No Result
View All Result
Home Business

In 2017 Sri Lankan economy grew at the lowest rate in 16 years, says Central Bank

Editor by Editor
April 29, 2018
in Business, Sri Lanka
Reading Time: 2min read
3 1
Share on WhatsApp

Colombo, April 29 (The Island): Sri Lanka’s economy grew at the slowest pace in 16 years to record a  worse than expected 3.1 percent GDP expansion last year, according to the Central Bank of Sri Lanka (CBSL).

The bank had expected the economy to grow at about 5.0 percent in 2017, but a drought and floods affected agriculture and industry had dragged down overall growth.

At least 213 people were killed in the May 2017 rains that triggered over a dozen landslides and flooded 15 of the island’s 25 districts.

“Adverse weather conditions and their spill over effects continued to affect economic activity and the economy surprised to the downside by recording a growth of 3.1 percent,” the bank said in its annual review of 2017.

The previous low was a negative 1.5 percent in 2001 when Tamil Tiger guerrillas launched an audacious attack on the country’s international airport and destroyed six parked aircraft, a move that crippled the tourism industry that year.

However, the industry has fully recovered since the end of the decades-long Tamil separatist war in May 2009. Construction too has expanded rapidly with a building boom across the nation of 21 million people.

Central Bank Governor Indrajit Coomaraswamy said he expected better weather this year and hoped GDP growth to reach about 5.0 percent, slightly more optimistic than the island’s international lenders.

Coomaraswamy said Sri Lanka attract a record $1.37 billion in the foreign direct investment last year and also amassed foreign reserves to an all time high of nearly $10 billion.

It was possible thanks to tighter monetary policy and fiscal reforms introduced since last year. The move stabilised the economy despite shortfalls in agriculture and industry

Sri Lanka had secured a $1.5 billion 36-month bailout from the International Monetary Fund in June 2016 following a balance of payments (BOP) crisis. The IMF has released $760 million of that loan up to the end of last year.

The BOP has improved since the bailout and last year the country recorded a surplus of $2.1 billion in its overall balance of payments after running deficits for two straight years, according to central bank figures.

Despite the surplus and record foreign exchange reserves, the local rupee had come under pressure in the past week. The US dollar which sold at 157 rupees last week had gone up to 159 on Thursday sparking fears of inflation which is currently running at 4.2 percent.

The governor said the bank would intervene if the forex market did not stabilize at a realistic level in the short term.

“If they don’t, we have the firepower to deal with it,” her said referring to the banks externals reserves estimated at $9.98 billion on Thursday.

(The featured image at the top shows the Central Bank of Sri Lanka)

 

 

 

 Hits: 222     Send to Friend

SendShare4Tweet1ShareShare
Editor

Editor

Recommended Articles

  • All
  • Recommend
President Arif Alvi appeals to Lankans to visit Buddhist sites in Pakistan

President Arif Alvi appeals to Lankans to visit Buddhist sites in Pakistan

April 22, 2021
Lankan monks on pilgrimage in Pakistan

Lankan monks on pilgrimage in Pakistan

April 21, 2021
Xi says global governance should reflect the evolving political and economic landscape

Xi says global governance should reflect the evolving political and economic landscape

April 21, 2021
IMF chief Kristalina Georgieva says China’s recovery has boosted demand

IMF chief Kristalina Georgieva says China’s recovery has boosted demand

April 19, 2021
Our lands are under threat, say Tamils in Sri Lanka’s Eastern Province

Our lands are under threat, say Tamils in Sri Lanka’s Eastern Province

April 18, 2021
A Phone Conversation Piloting a New Voyage

A Phone Conversation Piloting a New Voyage

April 17, 2021

Advertorial

  • All
  • Advertorial
Visual and Textual Analysis for Images with Reverse Search Tools

Visual and Textual Analysis for Images with Reverse Search Tools

January 3, 2021

Popular Now

  • Image credits - Fusion Medical Animation @fusion_medical_animation / Unsplash

    Covid clusters reported from Pamunuwa & Fort State bank

    27 shares
    Share 11 Tweet 7
  • Stiff opposition to stripping civic rights of Lankan opposition leaders

    14 shares
    Share 6 Tweet 4
  • The Lankan “death trap”

    13 shares
    Share 5 Tweet 3
  • Mrs. World 2020 title goes to Ireland after Mrs. Caroline Jurie resignation

    12 shares
    Share 5 Tweet 3
  • WhatsApp Pink is a new virus targeting WhatsApp users, can take complete control over victim’s phone

    12 shares
    Share 5 Tweet 3
  • About Us
  • Advertisements
  • Privacy Policy
  • Contact

© 2020 NewsIn.Asia - Lovingly maintained by DigitalArc.

No Result
View All Result
  • Home
  • Around South Asia
    • Afghanistan
    • Bangladesh
    • Bhutan
    • China
    • India
    • Maldives
    • Myanmar
    • Nepal
    • Pakistan
    • Sri Lanka
  • Around The World
  • Breaking News
  • Business
    • Exchange
  • Climate Change
  • Governance
    • Crime
    • Diplomacy
    • Defense
    • Human Rights
    • Politics
    • Strategic Affairs
  • Lifestyle
    • Books
    • Entertainment
      • Arts
      • Cinema
      • Gaming
      • Music
      • Movie
      • Series
      • TV
    • Health
    • Fashion
    • Food
    • Travel
  • Culture
    • Ethnicity
    • Gender
  • Development news
  • Economy
  • Education
  • Environment
  • Coronavirus
  • History
  • National
  • Offbeat
    • Media
    • Music and arts across South Asia
  • Recommended
    • Headlines
    • Highlights
    • Top Picture
    • Top Story
  • Religion
  • Science
  • Sports
    • Football
    • Cricket
      • LPL
      • IPL
    • Tennis
    • Formula 1
    • NBA
  • Tech
    • Instagram
  • United Nations
  • Weather
  • World
    • Japan
    • Russia
    • United States

© 2020 NewsIn.Asia - Lovingly maintained by DigitalArc.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In