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Sri Lanka's GDP likely plunged amid debt crisis, political turmoil

Gross domestic product probably fell 10% in the three months to June from a year ago, according to a Bloomberg survey of economists as of Wednesday

People stand holding a national flag at the President Gotabaya Rajapaksa's office on the second day after it was stormed in Colombo, Sri Lanka (Photo: AP/PTI)
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People stand holding a national flag at the President Gotabaya Rajapaksa's office on the second day after it was stormed in Colombo, Sri Lanka (Photo: AP/PTI)

Anusha Ondaatjie | Bloomberg
Sri Lanka’s economy likely shrank the most in two years amid a debt crisis that triggered a default and widespread protests that brought the nation to a standstill leading to the ouster of the president.

Gross domestic product probably fell 10% in the three months to June from a year ago, according to a Bloomberg survey of economists as of Wednesday. That’s the slowest reading since the corresponding quarter of 2020 and compares with a 1.6% contraction in January-March.

The statistics department is due to release the data at about 3 p.m. local time on Thursday.

“Sri Lanka is likely

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First Published: Sep 15 2022 | 7:30 AM IST

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