'GDP growth may continue to struggle at 2.8% in 2021'
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Sri Lanka, Sept. 16 -- First Capital Research in their mid-year outlook report says that the GDP growth would record the steepest contraction at -5.8% for 2020 while the growth may continue to be a struggle at 2.8% in 2021.
"GDP growth may continue to be a struggle though at 2.8% in 2021," the report said.
Higher budget deficits may continue through 2020 to 2021 as well. Potentially high budget deficits are likely to push the rupee debt borrowing requirement higher for 2020 and 2021.
Trade deficit may also grow wider towards 1H2021 amid the possible rise in consumer demand possibly leading to a high level of consumer imports pressuring the foreign reserves and the rupee.
First Capital Research expects the Government to raise about USD...
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