Most countries in South Asia are far from pre-pandemic trend levels. The latest South Asia Economic Focus Report titled Shifting Gears: Digitisation and Services-Led Development projects the region to grow by 7.1% in 2021 and 2022. The pandemic is estimated to have caused 48 to 59 million people to become or remain poor in 2021 in South Asia. Despite increased policy rates and price controls imposed by the Government, inflationary pressure is expected to remain strong amid partial monetisation of the fiscal deficit, currency depreciation, and rising global commodity prices. In the medium to long term, digital technologies could become an important engine for job growth in Sri Lanka.

Source: The Nation October 07, 2021 18:45 UTC