{"id":68861,"date":"2021-07-11T17:49:05","date_gmt":"2021-07-11T17:49:05","guid":{"rendered":"https:\/\/websitedesigns.com.au\/elankanew\/?p=68861"},"modified":"2021-07-11T17:49:05","modified_gmt":"2021-07-11T17:49:05","slug":"notable-economic-recovery-by-last-quarter-2021-cbsl-by-indunil-hewage","status":"publish","type":"post","link":"https:\/\/websitedesigns.com.au\/elankanew\/notable-economic-recovery-by-last-quarter-2021-cbsl-by-indunil-hewage\/","title":{"rendered":"Notable economic recovery by last quarter 2021 &#8211; CBSL-by Indunil Hewage"},"content":{"rendered":"<h1 style=\"text-align: center;\"><span style=\"font-size: 28px; color: #003366;\">Notable economic recovery by last quarter 2021 &#8211; CBSL-<span style=\"color: #000080;\">by Indunil Hewage<\/span><\/span><\/h1>\n<p><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-68862 aligncenter\" src=\"https:\/\/websitedesigns.com.au\/elankanew\/wp-content\/uploads\/2021\/07\/Governor-CBSL-Prof.-W.-D.-Lakshman-e1626025562137.jpg\" alt=\"\" width=\"600\" height=\"383\" \/><\/p>\n<p><strong><span style=\"font-size: 20px; color: #800000;\">Source:<\/span><\/strong><span style=\"color: #000000;\"><a style=\"color: #000000; font-size: 20px;\" href=\"https:\/\/dailynews.lk\/2021\/07\/09\/business\/253509\/notable-economic-recovery-last-quarter-2021-cbsl\" target=\"_blank\" rel=\"noopener noreferrer\">Dailynews<\/a><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000000;\">Sri Lanka\u2019s first quarter growth would be better than expected, Central Bank Governor Prof. W D Lakshman said.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000000;\">Despite the fact that GDP estimates for the first quarter of 2021 have not been released, Governor Prof. Lakshman said Sri Lankan economy is likely to have recorded a higher than expected growth rate in the first quarter of 2021 based on several information such as Index of Industrial Production, Agricultural sector performance and private credit, etc.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000000;\">\u201cWe\u2019re pleased to observe positive developments on many fronts particularly during the first quarter. As COVID related lock downs are gradually removed and then with the vaccination drive which is in full force, we expect a notable recovery by the last quarter of the year.\u201d<\/span><\/p>\n<p><!--more--><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000000;\">In terms of foreign debt service obligations, the Government and the Central Bank have taken several steps to ensure the impeccable debt service record of the country amid the most challenging times. With COVID 19 pandemic affecting the inflows from tourism and many other investment inflows, measures have been taken to limit non-essential outflows, he said.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000000;\">\u201cWe understand that some segments of the economy may have been affected due to these measures; but these measures are taken for the betterment of the country as a whole for a short period of time. And I\u2019m confident that there will be a gradual improvement to the external sector situation over time,\u201d he said.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000000;\">Furthermore, Governor Prof Lakshman mentioned that the successful implementation of the port city project would provide additional stimulus to the economy.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000000;\">\u201cWe were working towards an ideal \u2018debt free country\u2019. Debt free in the sense not zero debt but easily manageable debt .Ideals are difficult to achieve. But it implies that we have to be able to handle foreign and domestic debt both. The best option for any country that is trying to achieve these ideals should focus on real sector development not losing the focus on stability concerns.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000000;\">In the real sector, we\u2019re very confident that by about next year, we will achieve substantial positive development changes.\u201d<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000000;\">When asked whether Sri Lanka is having a liquidity shortage in the domestic foreign exchange market or any forex crisis, the Governor elaborated, \u201cThe basic idea is to manage imports with some restraints on the basis of what we are getting, mainly such as service exports, commodity exports and also from remittances.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000000;\">If the banking sector is managing those inflows and outflows that come through those mechanisms, I think we should not be having this problem. Of course there is a strong message going from various sources which are largely speculative.\u201d<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000000;\">When required in the future, Governor Lakshman said the Central Bank will take appropriate actions to address any inflation concerns without damaging the growth process.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Notable economic recovery by last quarter 2021 &#8211; CBSL-by Indunil Hewage Source:Dailynews Sri Lanka\u2019s first quarter growth would be better than expected, Central Bank Governor Prof. W D Lakshman said. Despite the fact that GDP estimates for the first quarter of 2021 have not been released, Governor Prof. Lakshman said Sri Lankan economy is likely [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":68862,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"aside","meta":{"footnotes":""},"categories":[35513],"tags":[8927,27431],"class_list":{"0":"post-68861","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-elanka-finance","8":"tag-central-bank","9":"tag-prof-w-d-lakshman","10":"post_format-post-format-aside"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.7.1 (Yoast SEO v25.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Notable economic recovery by last quarter 2021 - CBSL-by Indunil Hewage<\/title>\n<meta name=\"description\" content=\"Sri Lanka\u2019s first quarter growth would be better than expected, Central Bank Governor Prof. W D Lakshman said.\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Notable economic recovery by last quarter 2021 - CBSL-by Indunil Hewage\" \/>\n<meta property=\"og:description\" content=\"Sri Lanka\u2019s first quarter growth would be better than expected, Central Bank Governor Prof. W D Lakshman said.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/websitedesigns.com.au\/elankanew\/notable-economic-recovery-by-last-quarter-2021-cbsl-by-indunil-hewage\/\" \/>\n<meta property=\"og:site_name\" content=\"eLanka\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/eLanka.com.au\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-11T17:49:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/websitedesigns.com.au\/elankanew\/wp-content\/uploads\/2021\/07\/Governor-CBSL-Prof.-W.-D.-Lakshman-e1626025562137.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"383\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"eLanka admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"eLanka admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/websitedesigns.com.au\/elankanew\/notable-economic-recovery-by-last-quarter-2021-cbsl-by-indunil-hewage\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/websitedesigns.com.au\/elankanew\/notable-economic-recovery-by-last-quarter-2021-cbsl-by-indunil-hewage\/\"},\"author\":{\"name\":\"eLanka admin\",\"@id\":\"https:\/\/websitedesigns.com.au\/elankanew\/#\/schema\/person\/f6e635b74ab35ef88a68a9973cacc5bd\"},\"headline\":\"Notable economic recovery by last quarter 2021 &#8211; CBSL-by Indunil Hewage\",\"datePublished\":\"2021-07-11T17:49:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/websitedesigns.com.au\/elankanew\/notable-economic-recovery-by-last-quarter-2021-cbsl-by-indunil-hewage\/\"},\"wordCount\":478,\"publisher\":{\"@id\":\"https:\/\/websitedesigns.com.au\/elankanew\/#organization\"},\"image\":{\"@id\":\"https:\/\/websitedesigns.com.au\/elankanew\/notable-economic-recovery-by-last-quarter-2021-cbsl-by-indunil-hewage\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/websitedesigns.com.au\/elankanew\/wp-content\/uploads\/2021\/07\/Governor-CBSL-Prof.-W.-D.-Lakshman-e1626025562137.jpg\",\"keywords\":[\"Central Bank\",\"Prof. W.D. 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