Sri Lanka likely...

“The early indication of the Central Bank says that it won’t be negative growth (in Q2),” Wickremeratne told Reuters in a phone interview yesterday.

“Obviously I don’t think we can achieve the (full-year) 3-4 percent range. But I will wait for the central bank’s latest estimates.”

Wickremeratne said the Central Bank reducing commercial banks’ Statutory Reserve Ratio in February, the government putting more money into construction, and a state-funded loan programme to boost economic activities in rural areas would all help to support growth.

“It is not typical private sector-led growth. But there will be growth because we are spending that money on the ground,” he said.

Growth slowed to a 17-year low of 3.2 percent in 2018, as a weeks-long political crisis and past policy tightening sapped business confidence and cooled investment.

The Central Bank had already said before last month’s attacks that interest rates could be reduced.