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Sri Lanka has recorded 8.2% GDP growth in the second quarter of 2011, compared to the same period in 2010, with prices estimated at Rs. 686,928 million as against Rs. 635,076 million in the second quarter of 2010, according to the statistics released by the Department of Census and Statistics.
The three major sectors of the economy namely, Agriculture, Industry, and Services registered significant growth as 77,940 million, 195,264 million, and 413,724 million respectively.
Having taken into consideration the recent macroeconomic developments the Central Bank has decided to maintain the Bank’s policy interest rates at their current levels.
Accordingly, the Bank’s Repurchase rate remains at 7.00 per cent while its Reverse Repurchase rate remains at 8.50 per cent, stated the Central Bank in its Monetary Policy Review for the month of September.
Both exports and imports continued to grow at a rapid pace. Meanwhile, foreign exchange inflows to the capital and financial account are also continuing in view of projects being implemented in diverse sectors of the economy, the Bank added.
Further, the Central Bank has also absorbed the proceeds of the sovereign bond issued recently, leading to the gross official reserves recording historically high levels.
For full report please visit:
http://www.statistics.gov.lk/national_accounts/Press%20Release/GDP%20Summary%20Indicators%202011%20Q%202.pdf
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