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The Central Bank of Sri Lanka (CBSL) said on Saturday (26) that Sri Lanka, having contained the domestic spread of the Covid-19 pandemic, is on a steady recovery path after the economic slowdown during the islandwide lockdown from mid-March to mid-May 2020.
It pointed out, using the latest data, that people’s movements have normalised ahead of neighbouring countries, and the usage of expressways, particularly the Southern Expressway, has also increased above pre-lockdown levels. Petroleum sales to the transport sector reached pre-Covid levels while electricity generation is steadily normalising, with greater reliance on hydropower generation.
In spite of the slowdown in global trade, the CBSL noted that activity at the Colombo Port has increased and even motor vehicle registrations hit the previous year’s levels, in spite of restrictions on new imports. The construction sector gradually gathered pace while industrial production has rebounded, and the purchasing managers indices display expansion in manufacturing activity as well as services.
http://www.themorning.lk/central-bank-says-economy-on-recovery-path/
It pointed out, using the latest data, that people’s movements have normalised ahead of neighbouring countries, and the usage of expressways, particularly the Southern Expressway, has also increased above pre-lockdown levels. Petroleum sales to the transport sector reached pre-Covid levels while electricity generation is steadily normalising, with greater reliance on hydropower generation.
In spite of the slowdown in global trade, the CBSL noted that activity at the Colombo Port has increased and even motor vehicle registrations hit the previous year’s levels, in spite of restrictions on new imports. The construction sector gradually gathered pace while industrial production has rebounded, and the purchasing managers indices display expansion in manufacturing activity as well as services.
http://www.themorning.lk/central-bank-says-economy-on-recovery-path/
