Inflation ( CCPI)25.2% (May 2023)
GDP-12.4% (4Q 2022)
Unemployment4.8% (4Q 2022)
3M T-Bill Rate25.65%
12M T-Bill Rate22.91%
2Y T-Bond Rate29.25%/ 30.00%
4Y T-Bond Rate27.25% / 27.35%
USD/LKR292/293
Reserves $2.75Bn (April 2023)
Cum. Trade Deficit $1,443Mn (April 2023 cumulative)
Cum. Fiscal DeficitLKR 2,300 Bn (Dec 2022)

South Asia is set to plunge into its worst-ever recession as the devastating impacts of COVID-19

Global IndexesOct 8, 2020
South Asia is set to plunge into its worst-ever recession as the devastating impacts of COVID-19
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South Asia is set to plunge into its worst-ever recession as the devastating impacts of COVID-19. World Bank forecasts a sharper than expected economic slump across the region, with regional growth expected to contract by 7.7% in 2020, after topping 6 percent annually in the past five years. Regional growth is projected to rebound to 4.5% in 2021. In previous recessions, falling investment and exports led to a downturn. This time is different, as private consumption, traditionally the backbone of demand in South Asia and a core indicator of economic welfare, will decline by more than 10%, further spiking poverty rates.

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