Sri Lanka is making steady making progress in terms of macroeconomic fundamentals, said Central Bank Governor Indrajit Coomaraswamy.
Speaking at the launch of the Development Process for Sri Lanka’s National Financial Inclusion Strategy, he said that Sri Lanka’s headline inflation soared to over 7% in 2017, but has since slowed to 4.5% and is expected to range between 4 to 6% in 2018.
Foreign exchange reserves increased to 7.97 billion US dollars by the end of 2017, from 6 billion US dollars a year earlier. Progress was also seen in developing policy frameworks for long term sustainable growth.
“This is reflected in the fact that we had a record year for exports, from a very low base and I must admit there is nothing to write home about that. Our exports are still far too low, but it was a record year.”
“The same applies to FDI and inflows to CSE,” he said.
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