IMF projects 3.7% growth this year | Sunday Observer

IMF projects 3.7% growth this year

Sri Lanka’s economy is recovering from the terrorist attacks last April, with GDP growth projected at 3.7 percent this year, a staff team of the International Monetary Fund (IMF) concluding a visit to Sri Lanka on Friday, said.

The mission in its preliminary findings noted that ambitious structural and institutional reforms are needed to anchor policy priorities, bolster competitiveness and foster inclusive growth in Sri Lanka.

It further stated that fiscal prudence remains critical to support macro-economic stability and market confidence, amid high levels of debt and refinancing needs.

However, the growth projection by the global lender is below the four percent forecast by the Central Bank last week.