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Sri Lanka’s economic growth slows in Q2 to 4.7%

Government data showed on Sunday that the economy grew 4.7 percent year-on-year in the second quarter of this year, compared with 5.3 percent in the previous quarter.

However, the performance was better during the April-June period than the 3 percent contraction during the same period last year.

Heavy rains in the second quarter of the year had a negative impact on agriculture, the government statistics office said.

The data comes ahead of presidential elections on September 21, the first since a shortage of foreign exchange in the country led to a record contraction in Sri Lanka By 7.3 percent in 2022.

The height of the economic crisis saw months of shortages that led to street protests.



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