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SRI LANKA RECORDS 8.2 PERCENT GDP GROWTH IN THE SECOND QUARTER

Sep 16, 2011 6:24:17 AM - itnnews.lk

Sri Lanka has recorded 8.2% GDP growth in the second quarter of 2011, compared to the same period in 2010, with prices estimated at 686,928 million rupees as against 635,076 million rupees in the second quarter of 2010.

Statistics released by the Department of Census and Statistics said the three major sectors of the economy namely, Agriculture, Industry, and Services registered significant growth as 77,940 million, 195,264 million, and 413,724 million respectively. Having taken into consideration the recent macroeconomic developments the Central Bank has decided to maintain the Bank’s policy interest rates at their current levels. Accordingly, the Central Bank said its Repurchase rate remains at 7.00 per cent while its Reverse Repurchase rate remains at 8.50 per cent. Both exports and imports continued to grow at a rapid pace.
Meanwhile, the Bank said foreign exchange inflows to the capital and financial account are also continuing in view of projects being implemented in diverse sectors of the economy.