Sri Lanka's economy is expected to grow by 5.5% in 2022: Reports

For the past several years Sri Lanka's economy is staggering and now experts predicted it to increase by 5.5 percent in 2022, thanks to a resurgence in the tourist industry, according to the country's central bank governor, Ajith Nivard Cabraal.

According to sources, Cabraal told reporters on Friday that Sri Lanka was going through a tough moment but had showed resilience in the past.He predicted that growth in 2021 will be in the range of "4.5 percent to 5.0 percent."

Sri Lanka's reserves increased to $3.1 billion in December, according to official estimates, with the central bank obtaining dollars through swaps after dipping to $1.6 billion in November, heightening worries of foreign loan default. The central bank chief stated that Sri Lanka will not default and will continue to pay loans and keep its records well.

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