The IMF projected that Sri Lanka (SL) will grow by 2.6 per cent this year (2022) from a low base, that is, after contracting by 3.6 per cent last year (2021).
In its April 2022 ‘World Economic Outlook’ (WEO) Report which was released yesterday (Wednesday 20), WEO data further showed that Sri Lanka’s present account deficit will expand to 7.1 per cent this year, from last year’s 4.3 per cent, before decelerating to 4.6 per cent in the next (2023).
WEO statistics also showed that annual average inflation will accelerate to 17.6 per cent this year, from 6 per cent last year, while decelerating to 12.9 per cent in the next. WEO data further showed that year-end inflation this year would also accelerate to 17.2 per cent, from last year’s year-end inflation estimate of 12.1 per cent, before decelerating to 9.5 per cent by next year end.
By Paneetha Ameresekere