Inflation ( CCPI)0.9% (March 2024)
GDP4.5% (4Q 2023)
Unemployment4.3% (4Q 2023)
3M T-Bill Rate9.90%
12M T-Bill Rate10.21%
2Y T-Bond Rate10.85%/ 11.00%
4Y T-Bond Rate12.10% / 12.20%
USD/LKR298/299
Reserves $4.951Bn (March 2024)
Cum. Trade Deficit $860 Mn (Feb 2024 cumulative)
Cum. Fiscal DeficitLKR 2,020 Bn (Nov 2023)

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
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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