By Uditha Jayasinghe
COLOMBO (Reuters) -Sri Lanka’s economy shrank 11.5% in the first three months of 2023 from the previous year, government data showed on Thursday.
The country is experiencing its worst financial crisis in decades.
The state-run Census and Statistics Department said the agriculture sector showed growth of 0.8%, while industries contracted 23.4%, and services dropped 5%.
Sri Lanka’s central bank projects that GDP will shrink by 2% this year while the International Monetary Fund (IMF) estimates a contraction of 3%.
(Reporting by Uditha Jayasinghe; editing by John Stonestreet)
