World Bank predicts Sri Lanka’s economic growth at 3.3 pct for 2020

The World Bank has forecast Sri Lanka’s economic growth at 3.3 per cent for 2020 saying the growth is likely to remain below four per cent in next three years.

The bank said, in its latest report of World Bank’s January 2020 Global Economic Prospects, that for 2021 and 2022, it maintains the same forecast of 3.7 per cent of economic growth in Sri Lanka.

Sri Lanka’s new government headed by President Gotabaya Rajapaksa said recently that one of its targets include achieving a 6.5 per cent economic growth per annum from 2020 and a GDP growth of 6,500 U.S. dollars per capita.

Sri Lanka’s growth had dipped below 3 per cent last year which was attributed to Easter attacks and policy uncertainty during the previous government.