Sri Lanka Economic Outlook
November 13, 2018After the second quarter’s robust performance, the economic landscape has rapidly deteriorated in recent weeks. While the trade deficit continued to swell in August, in October the rupee plunged to new lows against the dollar. On 26 October, a deep political crisis erupted, as President Sirisena sacked Prime Minister Wickremesinghe, replacing him with Mahinda Rajapaksa—a former president with a record of human rights violations—and forcing parliament into recess. However, Wickremesinghe challenged the move as unconstitutional and refused to leave office. The crisis could threaten Sri Lanka’s democracy, financial markets, tourism industry and credit rating, and has already caused the freezing of planned investment and foreign aid from the U.S. and Japan.
Sri Lanka Economic GrowthThe ongoing political crisis could jeopardize Sri Lanka’s economic prospects, especially as its current account and fiscal deficits already make it vulnerable to shocks. Met the why particular panelists expect growth of 4.2% in 2019, down 0.1 percentage points from last month’s forecast, and 4.4% in 2020.
Sri Lanka Economy Data
5 years of Sri Lanka economic forecasts for more than 30 economic indicators.
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Sri Lanka Facts
|Exchange Rate||179.0||0.02 %||Dec 11|
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