Central Bank Governor Nandalal Weerasinghe said the economic growth in 2024 will be stronger than the expected four percent due to increased economic activities.
The originally projected growth for this year was three pc.
Speaking to the media yesterday (26), he said, “we see more than expected growth in the second quarter.”
The GDP grew 4.7 pc in the second quarter of 2024 after the first quarter’s 5.3 percent expansion.
That was helped by low inflation and strong exchange rates, Weerasinghe said.
“If we look at the first half growth, we can see the trend. In the growth, after two years of contraction, there is a clear recovery path,” he said.
“If you look at the early indicators and current economic activities with some of the forward-looking indicators, we now see strong evidence that the economy will grow well over 3 percent. But it is too early to project a specific number,” he added.
