The Central Bank, Wednesday, left growth projections of 5.5 percent for 2003 intact, but warned that key structural reforms had to go ahead to maintain the momentum.
ldblquote The downside is the slower implementation of structural reforms such as labour reforms, public administration and particularly infrastructure projects means we wont be able to sustain the growth we envisage dblquote , Director Statistics, Central Bank, Anila Dias Bandaranaike said.rn
rnInflation is also expected to fall to about 5 to 6 percent in 2004 from the seven percent expected this year.rn
rnThird quarter Gross Domestic Product (GDP) clocked in a 5.6 percent growth, driven largely by the Services sector, contributing 79 percent to GDP growth.
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rnThis is the fifth consecutive quarter the GDP has exceeded 5.5 percent, the Bank said.rn
rnBanking, finance, real estate and a surge in tourist arrivals have been key thrust areas, with the trend expected to continue into the fourth quarter.rn
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