Sri Lanka, July 12 -- A rebound in the economy could be expected in the second half of the year and will set the trend to reverse the country's rating from a lower-middle income country to an upper-middle income country soon, said Central Bank Governor Prof. W.D. Lakshman at the Monetary Policy Review media briefing on Thursday.

"The growth momentum will pick up in the latter half of the year with the backing of monetary and fiscal stimulus measures taken so far to revive the economy," he said.The World Bank downgraded Sri Lanka from an upper-middle income country to a lower-middle income country early this month.

The global economies are classified into four income groups such as low, lower-middle, upper-middle, and high-income countri...