Economy to expand 7.5% in 2013, inflation at mid – single digit

Sri Lanka’s economy will expand around 7.5 percent in 2013, with 8 percent growth in the medium term, Sri Lanka’s Central Bank said in a report, just ahead of the 2013 Budget being presented to the Parliament around 12.30 noon.

“Global economic recovery and less uncertainty over policy responses, especially in the Euro area, coupled with an easing of both fiscal and monetary policy measures adopted domestically to address issues in certain sectors, are expected in 2013,” the Central Bank said.

The bank also noted that cautious monetary and fiscal policy measures together with envisaged improvements in domestic supply conditions are expected to help maintain inflation at mid-single digit levels in 2013.

Source: Daily Mirror (Sri Lanka)