COLOMBO (AFP) – Sri Lanka's Central Bank on Tuesday forecast the island's post-war recovery would accelerate this year with 8.5 percent economic growth on the back of a blistering expansion in tourism.
The country's economy grew 8.0 percent in 2010, up from 3.5 percent a year earlier when security forces were in the final stages of crushing Tamil Tiger rebels and ending decades of ethnic bloodshed.
"We expect growth to accelerate to 9 percent in 2012 and 9.5 percent in 2013," Central Bank governor Nivard Cabraal said in a statement outlining the bank's monetary policy for 2011.
Cabraal said business confidence and receipts from tourism had boomed since the end of the war in May 2009, while foreign investment and export earnings had also picked up.
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AFP
