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Following the trail of last year’s overall growth of 7.4 %, the economy is expected to yield a high growth in 2007 as well, said the Central Bank in its Monetary Policy Review for the month of April, issued yesterday (10). “The external sector continued to perform well during the first two months of 2007. Cumulative exports in the first two months increased by around 10 per cent while imports grew by 7 per cent. The Balance of Payments (BOP) recorded a surplus of US dollars 53 million up to February 2007 benefiting from the narrowed trade deficit and the inflows to the government. The gross official reserves of the country reached US dollars 2, 578 million by end February 2007,” it added.
Commenting on the changes in the Colombo Consumers’ Price Index (CCPI)
it said that point to point inflation decelerated to 19.5 per cent and
that this decelerating trend is expected to continue in the coming
months.
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