Economic growth in second quarter 12.3%

Economic growth in second quarter 12.3%

Economic growth in second quarter 12.3%

Written by Amani Nilar

17 Sep, 2021 | 3:42 pm

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.

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