COLOMBO, Aug 4 (NNN-XINHUA) – Sri Lanka’s inflation will fall further this month, and then stabilise between four and six percent, Director of the Central Bank’s Economic Research Department, P. K. G. Harischandra, told journalists yesterday.
He said that, inflation in July had dropped to 6.3 percent.
This will further drop due to policies that the government and Central Bank has taken, he said.
Harischandra added that, the country’s gross domestic product (GDP) growth is expected to be positive in the second, third and fourth quarters of 2023.
However, given that the economy contracted significantly in the first quarter of 2023, it is unlikely that the GDP growth will be positive this year, he said.
The GDP growth will be positive next year, he said.
Sri Lanka’s inflation has been dropping steadily since Sept, 2022, when the Colombo Consumer Price Index recorded inflation at 69.8 percent.– NNN-XINHUA
