In a public statement on Monday, the bank said that in Sri Lanka, growth is expected to soften to 2.7 per cent in 2019. Imports have declined severely across South Asia, contracting between 15 and 20 per cent in Pakistan and Sri Lanka. Growth in fiscal year 2021 is forecast just below 6 per cent on the base of strong tourism growth and increased revenue from the existing power plants. • India: After the broad-based deceleration in the first quarters of this fiscal year, growth is projected to fall to 6 per cent this fiscal year. The program signed with the IMF is expected to help growth recover from fiscal year 2021-22 onwards.

Source: Sunday Times October 14, 2019 09:11 UTC