Holding On – Updated

The Central Bank on Tuesday reiterated its call for political stability, fiscal discipline and structural reforms to enable the economy grow by five percent this year.
For the seventh consecutive quarter, Sri Lankas economy exceeded five percent to notch a 6.2 percent growth.rn

rnTo sustain the growth momentum, the bank said the government needs to ensure it continues with the ceasefire to boosts investor and consumer confidence.rn

rnThe wish list also includes lquote macro economic management, reducing economic policy uncertainties and effective utilisation of external assistance to improve infrastructure facilities, particularly power and roads.rn

rnCommenting on first quarter GDP, the bank said that about 80 per cent of that growth came from the services sector, which expanded 9.5 percent over the same period last year.rn

rnDriven by an upward trend in mobile phone use that increased 56 percent over last year, the telecom sub-sector was the best performing at 31.8 percent growth, followed by