Written by Staff Writer
08 Feb, 2020 | 1:10 pm
COLOMBO (News 1st):- The IMF states that the Sri Lankan economy is returning to normalcy following the April 21 attack.
The IMF predicts, that the economic growth of the country for 2020, would stand at 3.7%. The statements were made following a visit by a group of IMF representatives to Sri Lanka.
Further, the said growth has been reportedly achieved through the revival in the tourism industry and the manufacturing sector.
The IMF also explains that the current budget deficit is only set to expand due to the subsidies and tax exemptions provided by the new government. The budget deficit of 2020 stands at 1.9% from the Gross Domestic Product, while the inflation rate is due to continue at 4.5%.
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