Written by Staff Writer
18 Feb, 2021 | 9:15 pm
COLOMBO (News1st): Sri Lanka is expected to record a current account surplus for 2021, the central bank has said.
“…if we can continue with the current import compression this year and beyond, there will be a current account surplus,” Central Bank Director Economic Research Dr Chandranath Amarasekara said.
He pointed out that a rebound in tourist arrivals and an increase in workers remittances would also result in a surplus in the current account.
But opposition parliamentarian Eran Wickremeratne said it is difficult for Sri Lanka to achieve a current account surplus this year.
“This idea that there will be a current account surplus is not sustainable,” the Samagi Jana Balawegaya parliamentarian said Thursday.
He pointed out that a surplus is not possible as Sri Lanka would have to spend money on at least certain imports with fuel prices on the rise.
“In 2020, a barrel of oil averaged about 35 dollars. Next year it will average between 64 to 65 dollars,” Wickremaratne noted.
He dismissed the possibility of a current account surplus even in the event of a partial economic growth.
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