Essay About Annual Reports And Per Cent

Annual Reports – Sri Lankan Economy
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The Sri Lankan economy exhibited its
resilience by recording a growth of 3.5
per cent in 2009 despite the challenges
emanating from both external and domestic
fronts. This was enabled by the steady recovery
of the economy since the second quarter of the
year reaching a growth of 6.2 per cent in the fourth
quarter. The growth in the year was subsequent to 4
consecutive years of robust growth where the annual
growth was 6.0 per cent or higher. The challenges
faced in achieving this growth in 2009 included the
synchronized downturn in major economies and the
heightened security concerns with the escalation of
the confl ict in the North during the fi rst half of 2009
as well as the unfavourable weather related setback
in the Agriculture Sector. The improved business
confi dence following the end to the confl ict and the
gradual recovery in the global economy are expected
to provide a further impetus to the growth prospects
of the Sri Lankan economy in 2010.
In the fi rst half of the year all three sectors
contributed to growth, although the Industry
and Services Sectors were adversely affected
by both the intensifi ed confl ict in the North as
well as the fallout of the global recession. The
growth registered by the Industry Sector during this
period was 2.4 per cent while the Services Sector
registered an even slower growth of 1.1 per cent.
The Agriculture Sector posted a growth of 3.7 per
cent with the bountiful Maha harvest contributing
signifi cantly to this growth. However, growth in this
sector in the fi rst half of the year was affected by the
poor performance in tea.
With the end of the conflict and gradual
recovery in the global economy, there was a
recovery