COLOMBO, Sept. 16 (Xinhua) — The Asian Development Bank Outlook in its latest update on Wednesday forecast Sri Lanka’s economic growth to contract by 5.5 percent this year, while South Asia overall will shrink by 6.8 percent.
Local media reports, quoting the report however said the outlook for 2021 remains unchanged with a 4.1 percent growth forecast for Sri Lanka.
“Maldives and Sri Lanka, heavily dependent on tourism, will be among the hardest hit,” the ADB Outlook update said.
The ADB, earlier this year projected Sri Lanka’s economic growth as between 4.5 to 5 percent. Enditem