January 3, 2018 / 5:27 AM / 3 months ago

Sri Lanka's economy to grow 5-5.5 pct in 2018 - c.bank chief

COLOMBO, Jan 3 (Reuters) - Sri Lanka’s economic growth in 2018 will bounce back to between 5-5.5 percent this year from last year’s estimate of less than 4 percent due to a recovery in the global economy, Central Bank Governor Indrajit Coomaraswamy said on Wednesday.

“Economic growth is expected to pick up to between 5-5.5 percent. The economy is stabilising and on the right path but growth is still a challenge,” he told an event announcing economic policies for this year.

He said last year’s growth was estimated at below 4 percent and the slowdown was mainly due to intermittent floods and drought along with tight monetary and fiscal policies.

He also said the central bank was targeting inflation between 4-6 percent this year. (Reporting by Shihar Aneez and Ranga Sirilal; Editing by Jacqueline Wong)

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