26 April 2018
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7.4% growth in the country's economy - Central Bank

central bank 1111According to the information provided by the census and statistics department in the year 2014 the country’s economy has increased up to 7.4%. In 2013 it was 7.2%.

 

Last year the 11.4% growth in the industrial sector and a 6.5% growthin the service sector have helped to gain this growth. Although there was an adverse climatic condition last year the agricultural sector
had a growth of 0.3%. Central Bank said this growth would increase this year as the inflation is steady when there will be a growth in the business sector.

Following the interim budget presented last February in spite of prices of fuel and essential goods have significantly reduced the inflation has considerably come down in February. The Central Bank
believes that this reduction would still grow further.

In spite of receiving foreign money, the trade balance and monetary account the foreign sector is at a stable level. The Central Bank believes in future when the foreign workers remittance increase, import expenditure reduces and the bank earnings and the private company receivables increase the foreign sector will further
strengthen.

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