WB sees S Lankan economy to grow 7.3pc this year

COLOMBO, Apr 12 (Xinhua): The World Bank expects Sri Lanka to lead South Asia in economic growth this year, benefiting from recent rebound and enhanced capacity, but the country faces many risks to the positive outlook, it said in its latest report on Friday.
"Sri Lanka would continue to grow at 7.3 per cent this year as the economy was sustained by new capacity from infrastructure investments and rebuilding after the country's recent conflict," the World Bank said in its biannual South Asia Economic Focus.
The forecast is far above the South Asian average of 5.2 per cent, as well as the estimate for India of 5.7 per cent, Pakistan's 4 per cent, 5.4 per cent for Bangladesh and 3.2 per cent for Afghanistan.
Sri Lanka's Central Bank has predicted a 7.8 per cent growth.
The World Bank said the stronger momentum of activity projected for the second half of 2013 will also lead to stronger carry-over into 2014 for Sri Lanka.