- Says every high frequency data improved in 2020 second half, despite second COVID-19 wave in Oct.
- Expects SL to rejoin upper-middle-income club this year
Sri Lanka is expected to unleash a burst of economic activity this year, as the pandemic fades and the people and businesses are resuming activities that were put off last year, possibly elevating the country again into the upper-middle-income level, a status which was lost two years ago in 2019.
According to the Central Bank, almost every high frequency data on the economy, such as industrial production, Purchasing Managers’ Index, credit to the private sector, power generation, paddy production, etc. improved in the second half of 2020, despite the second wave of COVID-19 in October.