Third Quarter GDP Performance: The Return of Growth in Services
The latest GDP statistics are encouraging, nonetheless questions remain. For instance, to what extent is the economic recovery in Sri Lanka driven by fiscal expansion as opposed to underlying private sector demand? If this is the case, how sustainable is the recovery, given the need for curtailing fiscal expansion (due to for instance IMF Agreement targets)? Will post war private sector demand be able to compensate for reductions in public expenditure?
V for Asia: What About Sri Lanka?
Asia’s growth prospects and drivers were reviewed in our earlier post; we now take a closer look at Sri Lanka. Sri Lanka’s economy began a serious downturn in the latter half of 2008. Quarterly GDP growth declined from over 7% in the 2nd quarter of 2008 to 4.3% in the 4thquarter of 2008. As expected, the economy suffered further in the first half of 2009 but with a slight improvement in the 2nd quarter of 2009
Demystifying Hawala/Undiyal – The Not So Dismal Science:[…] believed that informal fund transfer operations in Sri Lanka have expanded considerably due to the wide gap between the…