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    A business friendly Govt. is something to look forward to - Cabraal

    June 01, 2014

    The election of Narendra Modi, a pro-business leader as India’s new prime minister, will be good for Sri Lankan economy as India is a major export market and a strong, business-friendly government is definitely something to look forward to said Sri Lanka’s Central Bank Governor, Ajith Nivard Cabraal in an interview with The Wall Street Journal during a visit to London to meet investors.

    Cabraal said he expects to see early signs of positive impact on Sri Lankan exports later this year, while a boost to trade should “definitely be visible” in 2015, adding that the central bank continues to expect economic growth of 7.8% this year.          

    After easing policy through much of 2013, the Sri Lankan Central Bank has left policy unchanged since a rate cut in January. With the outlook for the global and South Asian economy improving, the governor said it’s unlikely the Central Bank will need to make further changes to policy in the near term.          

    The Governor further said that going forward, an improvement in the European economy as well as the U.K. would be very helpful.

    Last modified on Sunday, 01 June 2014 09:29

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