Sri Lanka central bank sees signs of ‘strong recovery’

colombo-sri-lanka
Colombo, Sri Lanka

Early evidence suggests the economy is recovering well from the shock due to Covid-19, the Central Bank of Sri Lanka (CBSL) says.

In its ‘recent economic developments’ report, the central bank acknowledges GDP contracted 1.6% in the first quarter of the year, down from 3.7% growth in the same quarter of 2019. It says figures for Q2 have been delayed due to challenges posed by Covid-19, but high-frequency indicators point to a “strong” rebound of economic activity.

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