Sri Lanka to achieve growth rate between 3.5 - 4% in 2020

Colombo (News 1st) - Central Bank Governor Professor W. D. Lakshman stated that they expect the country to record a growth of between 3.5 and 4% in 2020. Addressing a media briefing on Thursday (March 05) the Governor noted that the expected political stability in the country coupled with a new budget would boost investor confidence. He added that the current conducive fiscal regime and declining market interest rates are expected to compensate for the possible reduction in external demand. Director of Economic Research at the CBSL, Dr. C. Amarasekara noted that the global economic slowdown would affect Sri Lanka as well. He added that although the country has seen foreign outflows from the government securities market, they do not envisage any further outflows to exert pressure on the exchange rate as the outstanding foreign investment in Rupee denominated government securities market is below USD 500 million. Meanwhile, it was also mentioned that Sri Lanka is in discussion with China Development Bank to borrow up to USD 2 billion.