INSUBCONTINENT EXCLUSIVE:
2,946.1 billion in the Q3 of 2023 from Rs
6,586,6 billion, recorded in the same quarter in 2022 registering a 4.9% positive change in the current price GDP.During this period, three
28.1% and 57.5%, respectively.The agriculture sector grew by 3% from a year earlier, while industrial output saw a 0.3% increase, and the
services sector, a 1.3% growth between July 01 and September 31.The DCS said the Q3 of 2023 began with the favourable change in
uncertainties in foreign exchange which were observed in previous quarters, and the economy and its expectations about the future had been
growing at a lower rate, and transformed into a positive state.The input costs declined parallel to the favourable change in the exchange
rate and the demand for debts which were at a lower level, showed a positive indication in this quarter along with the reduction in interest
rate.With the expansion of the tourism sector, a positive impact could be observed in the service exports during this quarter
Accordingly, accommodation, food and beverage service activities have recorded a high positive growth while agricultural activities have
also recorded a positive growth rate in the Q3 of 2023.Moreover, some of the manufacturing industries have also recorded expansions in this
quarter.The expansion of the economy was the first since the end of 2021, with the upturn driven by a lower base, moderating inflation, a
to return next year, with the Sri Lankan economy projected to grow 1.8%, but challenging reforms lie ahead, such as higher taxes, reforms to
loss-making state enterprises and a complete restructuring of its foreign debt.--with inputs from agencies
