Central Bank Governor Nivard Cabraal yesterday expressed confidence that the economy would grow by 5% in 2021 on the back of 8% growth in the first half.

Speaking at the launch of the short-term road map of the CBSL, Cabraal said the GDP growth forecast for the first quarter of next year was 6.5% whilst the estimate for full year of 2022 was 6%.

On the monetary front, Cabraal said a key priority was to maintain inflation within the target band of 4-6%. 

“The record of over 150 consecutive months of single-digit inflation will be maintained with appropriate policy measures,” the CBSL Governor emphasised. 

He said the recent monetary tightening measures would help pre-empt any build-up of inflationary pressures in the medium term.

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