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According to projections made by the Central Bank in April 2019, Sri Lanka’s nominal GDP was expected at Rs. 17.39 tn in 2020 and Rs. 19.17 tn in 2021. However, with the pandemic, the economy recorded a nominal GDP of only Rs. 14.97 tn in 2020 and is likely to record a nominal GDP of about Rs. 16.5 tn in 2021.
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3.6 per cent in real terms in 2020, recording the deepest recession since independence. Mobility restrictions. and other containment measures imposed locally and internationally, with a view to preventing the spread. of COVID-19, hampered real economic activity across all sectors. The sharp contraction observed in.
Oct 6, 2022 · Results. Outlook. Sri Lanka faces an unsustainable debt and severe balance of payments crisis, which is having a negative impact on growth and poverty. According to the latest South Asia Economic Focus and the Sri Lanka Development Update, Sri Lanka’s real GDP is expected to fall by 9.2 percent in 2022 and a further 4.2 percent in 2023.
Apr 9, 2021 · Sri Lanka’s economy contracted by 3.6 percent in 2020, the worst growth performance on record, as is the case in many countries fighting the pandemic. Government acted decisively with steps such as cash transfers and postponed tax payments.
Overview. Key Economic Indicators. Economic Snapshot. Our Forecasts. Sri Lanka's economy in numbers: Nominal GDP of USD 74.2 billion in 2022. GDP per capita of USD 3,347 compared to the global average of USD 10,589. Average real GDP growth of 2.5% over the last decade. Share of the region's population. Share of the region's GDP. Economic structure:
The economic growth rate for the third quarter of 2020 is reported as 1.5 percent compared to 2.4 percent growth recorded in the third quarter 2019.
