Economic growth in second quarter 12.3%

COLOMBO (News 1st): The Department of Statistics says that the economic growth rate has increased by 12.3% in the second quarter of this year on an year-over-year basis. A release issued by the department further states that the economic growth in the first quarter of this year was at 8% on an year-over-year basis. The release states that an economic growth has been observed despite the pandemic due to the Government allowing certain sectors to remain in operation within the COVID-19 lockdown period. As a result, a growth in the Agriculture sector (8.1%), the industries sector (26.5%) and the services sector (7.5%) has been observed, the Statistics Department says. The newly-appointed Governor of the Central Bank, Ajith Nivard Cabraal also mentioned that the Government's objective is to maintain a high level of economic growth despite the pandemic.