Sri Lanka's economy expected to grow 5.5% in 2022

By IANS | Published: January 15, 2022 10:00 AM2022-01-15T10:00:03+5:302022-01-15T10:10:07+5:30

Colombo, Jan 15 Sri Lanka is expected to record an economic growth of 5.5 per cent in 2022, ...

Sri Lanka's economy expected to grow 5.5% in 2022 | Sri Lanka's economy expected to grow 5.5% in 2022

Sri Lanka's economy expected to grow 5.5% in 2022

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Colombo, Jan 15 Sri Lanka is expected to record an economic growth of 5.5 per cent in 2022, with a recovery in its tourism sector, the country's central nank Governor Ajith Nivard Cabraal said.

Cabraal told reporters here on Friday that Sri Lanka was going through a difficult time but had shown to be resilient even in the past, reports Xinhua news agency.

He said the 2021 growth rate was likely to be around "4.5 per cent to 5.0 per cent".

According to official figures, Sri Lanka's reserves rose to $3.1 billion in December with the central bank borrowing dollars through swaps after falling to $1.6 billion in November, raising fears of default of payments for international loans.

The central bank chief said Sri Lanka will not default and will continue to pay loans and keep its records.

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