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Economists sharply cut Sri Lanka’s growth outlook through this year as curbs on imports and still-limited reserves persist even as the International Monetary Fund releases bailout loans and authorities work toward debt restructuring efforts.
The economic contraction is seen more than doubling to 9.9% in the first quarter from the previous estimate of 4.4%, the latest Bloomberg survey of economists showed. Growth is likely to bounce back from the second quarter though at a slower pace of 1% from an estimated 2.9% previously.
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