Sri Lanka: Economy

In June 2016, the International Monetary Fund approved a 36-month Extended Fund Facility arrangement to support the Sri Lanka’s economic reform agenda. The main efforts are to boost the tax ratio, reduce the budget deficit, rebuild foreign exchange reserves, and improve public financial management, including of state-owned enterprises. Gross domestic product grew by 5.2% in the first quarter and then slumped to 2.6% in the second to hold growth in the first half of 2016 to 3.9% year on year. Read more from Asian Development Outlook 2016 Update


Economic forecasts for South Asian countries

Country 2016 2017
Afghanistan 2.0 3.0
Bangladesh 7.1 6.9
Bhutan 6.4 6.1
India 7.4 7.8
Maldives 3.5 3.9
Nepal 0.8 4.8
Pakistan 4.7 5.2
Sri Lanka 5.0 5.5
Average 6.9 7.3
Country 2016 2017
Afghanistan 4.5 6.0
Bangladesh 5.9 6.1
Bhutan 3.3 4.6
India 5.4 5.8
Maldives 1.2 1.4
Nepal 9.9 8.5
Pakistan 2.9 4.7
Sri Lanka 4.5 5.0
Average 5.2 5.7
Country 2016 2017
Afghanistan 4.5 1.1
Bangladesh 1.7 1.0
Bhutan -29.9 -27.0
India -1.4 -1.8
Maldives -10.1 -10.0
Nepal 6.2 4.6
Pakistan -0.9 -1.6
Sri Lanka -2.0 -2.0
Average -1.1 -1.6

Source: Asian Development Outlook 2016 Update

 

 
This page was generated from https://www.adb.org/countries/sri-lanka/economy on 29 September 2016