This was stated by the Department of Census and Statistics while issuing a statement on the issuance of National Accounts Estimates for the first quarter of 2022.
Sri Lanka has failed to post the expected high economic growth this quarter due to strong factors such as inflation, rupee depreciation, dollar deficit, remittances and declining tourism revenue, the department said.
The announcement also said that manufacturing activities in many manufacturing, construction and service industries were hampered due to various disruptions in fuel imports and the industrial sector as a whole also recorded negative economic growth.
However, the services sector recorded a modest economic growth of 0.7% in the first quarter of 2021 this year.
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