Sri Lanka: Recent Economic Developments
November 4, 1998
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This paper reviews economic developments in Sri Lanka during 1995–97. After slowing to 4 percent in 1996, economic growth recovered to 6½ percent in 1997. The slowdown in 1996 had been mainly owing to a severe drought that affected the agricultural sector and disrupted the power supply. The recovery in 1997 was strongest in agriculture and manufacturing, supplemented by continued good performance in the services sector, including a rebound in tourism. In addition, significant accomplishments were achieved in economic restructuring, including several successful privatizations and an initial step toward fiscal adjustment.
Subject: Banking, Commercial banks, Economic sectors, Expenditure, Financial institutions, Foreign banks, Loans, Public sector, Treasury bills and bonds
Keywords: Asia and Pacific, banking system, broad money, capital adequacy ratio, central bank, Commercial banks, CR, debt management, East Asia, economic growth, exchange rate, first quarter, Foreign banks, goods and services tax, ISCR, Loans, monetary policy, private sector, Public sector, South Asia
Pages:
120
Volume:
1998
DOI:
Issue:
118
Series:
Country Report No. 1998/118
Stock No:
1LKAEA0021998
ISBN:
9781451823455
ISSN:
1934-7685
