18
The IMF revised the Real GDP growth to 2.7 percent in 2019 and it is projected to improve to 3.5 percent in 2020, as tourist arrivals and related activities gradually recover.
Inflation is expected to remain stable at around 4.5 percent during 2019-20.Despite the recent fall in tourist arrivals and remittances, the current account balance is projected to improve to 2.6 percent of GDP in 2019 on the back of lower imports and stronger exports supported by the exchange rate correction in late 2018.Trade and investment liberalization, SOE reforms, and stepped-up anti-corruption efforts will be important to bolster Sri Lanka's competitiveness and medium-term growth, the team said.
