The economy contracted by 7.8% in 2022! The economy will shrink by 2% this year! -Central Bank!

According to the annual report issued by the Central Bank, Sri Lanka’s economy is expected to shrink by 2 percent in 2023.

However, according to the report, the Central Bank has predicted that Sri Lanka’s economy will grow by 3.3 percent in 2024.

The economy contracted by 7.8 percent in 2022, a year of deep political instability, inflation and severe currency devaluation.