Sri Lanka’s Economy Grows at Fastest Pace This Year

18 Dec

By Anusha Ondaatjie

Dec. 18 (Bloomberg) — Sri Lanka’s economy expanded at the fastest pace this year as the end of a civil war and five-year low interest rates spurred consumer and company spending. Stocks rose to a record.

Gross domestic product rose 4.2 percent in the three months ended Sept. 30 from a year earlier after gaining 2.1 percent in the previous quarter, the statistics department said in a statement in Colombo today.

The defeat of Tamil Tiger rebels in May this year after 26 years of war has encouraged some of the island’s biggest companies including John Keells Holdings Plc and Aitken Spence Plc to expand their business. The central bank has room to maintain rates at current levels because of low inflation, Governor Nivard Cabraal said last month.


Media Release – 18 December 09


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