Dec 20, 2018

Economic growth rate declines to 2.9%

According to the latest report issued by the Department of Senses and Statistics the economic growth rate in the third quarter of this year is estimated at 2.9%.

In 2017 the third quarter figure was at 3.2%, the department reported.

The Department of Senses and Statistics noted that the estimated GDP for the third quarter this year is Rs. 2,431,627 million and last year the figure was Rs. 2,362,698 million.

The Department also said that the contribution of the main components of the economy are agriculture, industries and the reduced concessionary taxes on goods and services contributing towards the GDP in the third quarter is 7.5%, 27.4%, 56.8% and 8.3% respectively.

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