Sri Lankas 2009 growth to hit seven-year low

Posted by 7Star Saturday, April 4, 2009

Sri Lankas lowered its 2009 economic growth forecast to a seven-year low of less than 5 percent, due to global recession and the lingering impact of tight monetary policy, a central bank official said on Friday. Nandalal Weerasinghe, the central banks chief economist, said both factors had persuaded the central bank to trim its earlier forecast of 5.0-5.5 percent.

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