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Country Economic Forecasts > Sri Lanka

  • April 2017
  • -
  • Oxford Economics
  • -
  • 8 pages

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We expect growth to accelerate slightly to 4.7% in 2017, from 4.4% last year, as the effects of the recent poor weather conditions start to fade, and investment and industrial output gather momentum. Consumption is being dampened by the government's strict adherence to fiscal consolidation, so investment will be the major driver of growth. Meanwhile, inflation will increase to an average 5.6% this year, reflecting the impact of a higher VAT rate and rising food prices. The Central Bank of Sri Lanka increased its main policy rates by 25 basis points in March to combat rising prices and demand-side pressures.

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