ADB sticks to 2015 growth forecast for SL

17 July 2015 03:06 am - 0 - {{hitsCtrl.values.hits}}

A A A

The Asian Development Bank (ADB) kept its economic growth forecast of 7 percent for Sri Lanka in a supplement to its flagship Asian Development Outlook 2015 released in March.

However, the brief report noted that the current political environment presents some downside risks.

“…political transition in Sri Lanka causes private investors to take a wait-and-see approach to new investment,” the report said.
Sri Lanka’s economy is forecasted to grow at 7.3 percent in 2016.

Meanwhile, the ADB raised slightly its 2015 forecast for South Asia to 7.3 percent against 7.2 percent in March, as an expected strong outturn in Bangladesh offsets weak growth in disaster-hit Nepal and with India’s economy seen supported by strong farm growth and fresh investments.

However, the report cut its 2015 and 2016 growth forecasts for China and the rest of Asia, largely as a result of the slower than expected growth in the region’s largest economy and in developed economies elsewhere.

Developing Asia is now expected to grow 6.1 percent and 6.2 percent this year and in 2016 against the ADB’s March forecast of 6.3 percent for both years.

Growth in East Asia is still seen as subdued with lower-than-forecast output across the region. China’s growth is seen moderating to 7.0 percent this year and 6.8 percent in 2016 compared to March estimates of 7.2 percent and 7.0 percent, the bank said.

Southeast Asia’s growth is seen a shade weaker at 4.6 percent this year and 5.1 percent next year compared to March estimates of 4.9 percent and 5.3 percent following disappointing economic output in the region so far this year, the ADB said.

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

Comments - 0

Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

ADB sticks to 2015 growth forecast for SL

Comments - 0

Add comment

RECOMMENDED

UDA owned land in Thalawathugoda; UDA Minister Prasanna Ranatunga under the spotlight for forceful occupation of reserved land

Loss-making SMIB faces political pressure in recovering loans

Baltimore Bridge Collapse: MV Dali, SL authorities anchored in mystery?

Has Sri Lanka become a potential hub for the illegal wildlife trade?

Spotlight on Moragahakanda Development Project Moragolla villagers lose livelihoods and down to one meal a day

Ambitious Sri Lankan jobseekers ‘trafficked into Ukraine war zones’

Western purple-faced langurs see blue!

Most Viewed in News

Sri Lankan among NASA’s new crew for next simulated Mars journey

A US “Kaputa”, a Lankan “Nariya” and a Presidential “Feast”

Street food vendor arrested for verbally harassing foreigner

23 year old youth ends up having his testicles removed

Former MP Palitha Thewarapperuma dies from electrocution

Complaint lodged over Piumi Hansamali's possession of Gota’s Range Rover

MIRROR CRICKET

Chamari Athapaththu sets big goal for T20 World Cup

How does CSK get best out of Pathirana?

Mendis, Mathews move up in ICC Test Rankings

Chamodi, Dewmi spins Sri Lanka U19 Women to big win

TODAY'S HEADLINES

Debt Restructuring Talks: Bondholders Fear Regime Change Impact

Don’t be deceived by NPP and Cardinal Ranjith: UNP

Emirates halts check-in for connections, UL cancels flights to Dubai

Plans afoot to obtain “Blue Flag Beaches” certification for SL beaches

Hardik fined Rs 12 lakh for violating IPL code of conduct after win over Punjab Kings

Chamari Athapaththu sets big goal for T20 World Cup

How does CSK get best out of Pathirana?

Mendis, Mathews move up in ICC Test Rankings