Tuesday, Aug 16 2022 | Time 09:01 Hrs(IST)

SL economy contracts 1.6 pc in first quarter

Colombo, June 29 (UNI) Sri Lanka’s Gross Domestic Product (GDP) contracted by 1.6 percent in the first quarter of 2022 as the country's economic activity slowed significantly despite expectations of a recovery after two years of the pandemic, the media reported on Wednesday.
The Department of the Census and Statistics (DCS) said the economic growth cratered due “factors such as inflation, foreign exchange devaluation and dollar deficit”, the Daily Mirror and other newspapers said.
It said the chemical fertiliser shortage during the first quarter had a severe impact on agriculture. As a result, rice production fell significantly.
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Truce in Yemen continues to ‘broadly hold in military terms’

15 Aug 2022 | 8:45 PM

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Spain evacuates 1200 from eastern valencia amid wildfire

15 Aug 2022 | 8:38 PM

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US sanctions senior Liberian officials over alleged corruption

15 Aug 2022 | 8:35 PM

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Pfizer CEO tests +ve for Covid

Pfizer CEO tests +ve for Covid

15 Aug 2022 | 8:34 PM

Washington, Aug 15 (UNI) Pfizer CEO Albert Bourla said on Monday that he had tested positive for COVID-19 despite having received four doses of the Pfizer-BioNTech vaccine against the novel coronavirus.

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