Current Account in Sri Lanka
Sri Lanka - Current AccountAlthough economic growth reached a one-year high in the first quarter, the second quarter will have been dismal owing to the 21 April terrorist bombings. Tourist arrivals fell 71% year-on-year in May and 57% in June, while the service PMI remained in the doldrums in May as all tourism-related sectors suffered. Nevertheless, growth may have bottomed-out in Q2, with the government slashing airline charges on 8 July in a bid to boost tourism. This, along with the reinstatement of the free visa program for 39 countries, a recent interest rate cut by the Central Bank and the extension of the IMF program, may support a modest rebound in Q3. Meanwhile, on 25 June, the government raised USD 2 billion through bond issuance, shoring up much-needed FX reserves.
Sri Lanka - Current Account Data
|Current Account (% of GDP)||-||-||-||-||-|
5 years of economic forecasts for more than 30 economic indicators.
Sri Lanka Current Account Chart
Source: Central Bank of Sri Lanka (CBS)
Sri Lanka Facts
|Exchange Rate||175.4||0.02 %||Jul 11|
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