While Sri Lanka has never had a meaningful growth since 2015, “Sri Lanka’s economy is likely to weaken in 2022 on the challenging external position, leading to pressure on the exchange rate” Fitch Said in a recent report.
“Foreign-currency shortages have resulted in supply shortages in essentials such as food and fuel, hurting economic activity. We expect GDP growth to slow to one percent in 2022, from an estimated 3.6 percent in 2021, before recovering to 4 percent in 2023,” it added.
Fitch in January projected Sri Lanka’s economic output to expand by 2.2 percent, much slower than the official projections, which were at around 5-6 percent.
