2023 Q4: Sri Lanka's economy grew 4.5% driven by tourism recovery; despite a 2.3% contraction for the year.
Sri Lanka's economy grew by 4.5% in Q4 2023 after contracting 2.3% for the year. The rebound was driven by a recovery in tourism, which helped to boost agriculture, industries and services. Despite the overall economic contraction in 2023, the growth in Q4 signals a potential recovery for the nation, which was severely impacted by a financial crisis and defaulted on its $46 billion foreign debt in 2022.
March 15, 2024
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