Fitch affirms Sri Lanka at ‘BB-’
Fitch Ratings has projected Sri Lanka's real GDP growth to average 6.5%-7% in 2013 and 2014, compared with the government's forecasts of 7.5% and 8% in 2013 and 2014 respectively. The Ratings Agency believes the government's forecasted growth could once again lead to overheating risks.
Fitch today confirmed Sri Lanka's 'BB-' sovereign with a …
April 30, 2013
Sri Lanka’s economy to grow by 6.5 percent this year, UNESCAP says
The United Nations Economic and Social Commission for Asia and the Pacific forecasts Sri Lanka’s economy to grow by 6.5 percent this year, marginally up from 6.2 percent in 2012 but lower than the Central Bank estimate of 7.5 percent.
The report released in Beijing China yesterday indicated Inflation which was only 2.7% in February 2012 …
April 19, 2013
Gold Drop Splits Central Banks as Sri Lanka Sees Opportunity
The biggest drop in gold prices since 1983 has divided central banks on whether the metal is cheap enough to increase investment. Sri Lanka’s central bank governor said falling prices are an opportunity for nations to raise gold reserves and that the island will “favourably” examine buying more.
The Bank of Korea said the plunge isn’t a …
April 16, 2013
Sri Lanka’s Economy to Recover in 2013-2014, ADB says
The Asian Development Bank says Sri Lanka’s economic growth is expected to recover gradually to 6.8% in 2013 and to 7.2% in 2014. ADB’s flagship annual economic publication Asian Development Outlook 2013 stated Sri Lanka’s performance in 2012 reflected a strong showing in industry, which grew by 10.3%, driven by a doubling of growth in …
April 11, 2013
India grants greater market access for SL products
The Indian High Commission in Colombo said in a statement, the Government of India has removed the condition of sourcing of fabric from India for 5 million pieces, which would increase the total quota for duty free export of Sri Lankan apparels to India to 8 million pieces. India's notification allowing 8 million pieces of Sri Lankan garments to …
April 2, 2013
Trade deficit narrows in January despite export decline
The trade deficit continued to narrow and recorded a 24 per cent year-on-year decline in January 2013. The Central Bank said the policy measures implemented early in 2012 to discourage non-essential imports have continued to ease pressure on the trade deficit and therefore on the current account balance Expenditure on imports declined by 21.3 per …
April 2, 2013
Difficult for Sri Lanka to export apparels to the EU from 2014
The Institute of Policy Studies in a report says Sri Lanka will find it difficult to export apparels to the European Union from 2014 onwards as it may lose its market share to other competitor countries like Bangladesh, Cambodia, India, Pakistan and Vietnam.
In 2010 and 2011, Sri Lankan share in EU garment market witnessed a marginal decline …
February 7, 2013