Sri Lanka Development Update 2021 : Economic and Poverty Impact of COVID-19

Amid the Coronavirus (COVID-19) pandemic, Sri Lanka’s economy contracted by 3.6 percent in 2020, the worst growth performance on record, as is the case in many countries fighting the pandemic. Swift measures enacted by the government in the second...

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Main Author:	World Bank
Format:	Report
Language:	English
Published:	World Bank, Washington, DC 2021
Subjects:	ECONOMIC GROWTH MONETARY POLICY EXTERNAL SECTOR FISCAL TRENDS ECONOMIC OUTLOOK RISKS CORONAVIRUS COVID-19 PANDEMIC IMPACT POVERTY EMPLOYMENT INEQUALITY DIGITAL DIVIDE
Online Access:	http://documents.worldbank.org/curated/en/284901624350168752/Sri-Lanka-Development-Update-2021 http://hdl.handle.net/10986/35833

id	okr-10986-35833
recordtype	oai_dc
spelling	okr-10986-358332021-06-25T05:10:43Z Sri Lanka Development Update 2021 : Economic and Poverty Impact of COVID-19 World Bank ECONOMIC GROWTH MONETARY POLICY EXTERNAL SECTOR FISCAL TRENDS ECONOMIC OUTLOOK RISKS CORONAVIRUS COVID-19 PANDEMIC IMPACT POVERTY EMPLOYMENT INEQUALITY DIGITAL DIVIDE Amid the Coronavirus (COVID-19) pandemic, Sri Lanka’s economy contracted by 3.6 percent in 2020, the worst growth performance on record, as is the case in many countries fighting the pandemic. Swift measures enacted by the government in the second quarter helped contain the first wave of Coronavirus (COVID-19) successfully, but these measures hit sectors like tourism, construction, and transport especially hard, while collapsing global demand impacted the textile industry. Job and earning losses disrupted private consumption and uncertainty impeded investment. As a result, the economy contracted by 16.4 percent (y-o-y) in the second quarter. The economy began to recover in the third quarter as the first wave was brought under control and containment measures were relaxed. The momentum continued in the fourth quarter as the economy was broadly kept open despite a second wave of Coronavirus (COVID-19) infections. The special focus section of this edition discusses the impact of Coronavirus (COVID-19) on poverty in Sri Lanka as of 2021. 2021-06-24T16:10:03Z 2021-06-24T16:10:03Z 2021-06-20 Report http://documents.worldbank.org/curated/en/284901624350168752/Sri-Lanka-Development-Update-2021 http://hdl.handle.net/10986/35833 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Economic Updates and Modeling South Asia Sri Lanka
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	ECONOMIC GROWTH MONETARY POLICY EXTERNAL SECTOR FISCAL TRENDS ECONOMIC OUTLOOK RISKS CORONAVIRUS COVID-19 PANDEMIC IMPACT POVERTY EMPLOYMENT INEQUALITY DIGITAL DIVIDE
spellingShingle	ECONOMIC GROWTH MONETARY POLICY EXTERNAL SECTOR FISCAL TRENDS ECONOMIC OUTLOOK RISKS CORONAVIRUS COVID-19 PANDEMIC IMPACT POVERTY EMPLOYMENT INEQUALITY DIGITAL DIVIDE World Bank Sri Lanka Development Update 2021 : Economic and Poverty Impact of COVID-19
geographic_facet	South Asia Sri Lanka
description	Amid the Coronavirus (COVID-19) pandemic, Sri Lanka’s economy contracted by 3.6 percent in 2020, the worst growth performance on record, as is the case in many countries fighting the pandemic. Swift measures enacted by the government in the second quarter helped contain the first wave of Coronavirus (COVID-19) successfully, but these measures hit sectors like tourism, construction, and transport especially hard, while collapsing global demand impacted the textile industry. Job and earning losses disrupted private consumption and uncertainty impeded investment. As a result, the economy contracted by 16.4 percent (y-o-y) in the second quarter. The economy began to recover in the third quarter as the first wave was brought under control and containment measures were relaxed. The momentum continued in the fourth quarter as the economy was broadly kept open despite a second wave of Coronavirus (COVID-19) infections. The special focus section of this edition discusses the impact of Coronavirus (COVID-19) on poverty in Sri Lanka as of 2021.
format	Report
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Sri Lanka Development Update 2021 : Economic and Poverty Impact of COVID-19
title_short	Sri Lanka Development Update 2021 : Economic and Poverty Impact of COVID-19
title_full	Sri Lanka Development Update 2021 : Economic and Poverty Impact of COVID-19
title_fullStr	Sri Lanka Development Update 2021 : Economic and Poverty Impact of COVID-19
title_full_unstemmed	Sri Lanka Development Update 2021 : Economic and Poverty Impact of COVID-19
title_sort	sri lanka development update 2021 : economic and poverty impact of covid-19
publisher	World Bank, Washington, DC
publishDate	2021
url	http://documents.worldbank.org/curated/en/284901624350168752/Sri-Lanka-Development-Update-2021 http://hdl.handle.net/10986/35833
_version_	1764483870514741248

Sri Lanka Development Update 2021 : Economic and Poverty Impact of COVID-19

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