SL the third slowest growing economy in the South Asian region in 2020
Bangladesh, Nepal, and Bhutan are estimated to grow faster than Sri Lanka in 2020, according to the World Bank, which said that south Asia region growth is expected to recover gradually, assuming a modest rebound in domestic demand driven by monetary stimulus and improved business confidence. Of all the countries in the region, the World Bank has forecasted Sri Lanka’s economic growth by 3.3 % in 2020 compared to a projected 2.7% in 2019. Bangladesh, Nepal, and Bhutan which top the list are expected to grow by 7.2%, 6.4% and 5.6% this fiscal year. As shown below, every country—barring Bangladesh, Nepal, and Bhutan—is now growing at a rate slower than its recent five-year average.
Pakistan’s growth rate is projected to deteriorate further to a mere 2.4% this fiscal year, as monetary policy remains tight, and the planned fiscal consolidation will compress domestic demand.
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