Economic growth in Sri Lanka is forecast to be 3.3% in 2021, but the debt risk is high: World Bank

Globally, the World Bank is projecting that South Asia will expand by 7.1% in 2021, which is below Sri Lanka's forecast of 3.3%, it said Thursday, calling for more action to raise the country's vitality. With more than half a million people infected by the Covid-19 virus, the island nation's once vibrant tourism industry has suffered nearly a 95 percent drop in arrivals when compared to 2019. Despite prior economic scarring associated with the pandemic, the country's long-term prospects are clouded by preexisting weaknesses, according to the World Bank.