Macroeconomic Forecast Sri Lanka

April 2005 | Macroeconomic Forecasts

Rising global oil prices and a severe drought hurt Sri Lanka in 2004 when inflation-adjusted GDP growth fell to 5.4%, the slowest rate in almost three years. Before the December 26 tsunami, we were forecasting GDP growth of over 5.0% in 2005. Now, we are forecasting growth of 4.5%. Sri Lanka's Finance Ministry had targeted 2004 economic growth at 5.0-5.5% and is aiming for around 6.0% per cent in 2005, revised down from an original 6.0-8.0% target range as a result of the tsunami.

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