Sri Lanka economy will grow irrespective of prevailing political situation in the Island : Official

CEAT Kelani Holdings Managing Director Ravi Dadlani (right) and Lanka Ashok Leyland CEO Umesh Gautham exchange the OEM agreement

Dec 16, 2014 (LBO) – Sri Lanka’s economy will grow irrespective of political out come in the Island, an official said. Sri Lanka will held a presidential election on 8th of January next year.

Growth in the gross domestic product (GDP) of Sri Lanka was consistently robust in the first half of 2014 to 7.6 percent in the first quarter and 7.8 percent in the second.

The island’s inflation continued to remain in low single digit levels, for 70 consecutive months and at levels below 5 percent in the last 12 months.

In October and November 2014, headline inflation (YOY) was at 1.6 percent and 1.5 percent, mainly due to the downward revisions to domestic fuel and electricity prices, Central bank said in its December monetary policy review.

If you take the capital market of Sri Lanka, the big factor to take on is the country is growing, irrespective of whatever outcome of the political situation, Vajira Kulatilaka, Chief Executive of NDB Capital Holdings PLC said.

Seven to eight percent economic growth will be seen in the country.

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