Asian Development Bank revises growth rate from 3.6% to 2.6% for 2019

COLOMBO (News 1st) - The Asian Development Bank slashed Sri Lanka's growth from its earlier projection of 3.6% to 2.6% for the year 2019. In the July edition of the Asian Development Outlook Supplement report, ADB stated the growth rate fell due to the April 21st attacks. The report added that growth in Sri Lanka more than doubled from 1.8% in the 4th quarter of 2018 to 3.7% in the first quarter of 2019. However, it added that the terror attacks in late April have interrupted tourist arrival and will dampen growth in the rest of 2019. The report further noted that inflation is now expected to be lower in both years in Afghanistan, Bhutan and Sri Lanka.