Reuters| Colombo | Sri Lanka
Sri Lanka's economy contracted by 1.6% in the January-to-March quarter as the island nation was crippled by the fallout of its worst financial crisis in decades, data released by the statistics department on Tuesday showed.
The state-run Census and Statistics Department said the contraction was largely driven by inflation, currency devaluation and low foreign exchange reserves.
Sri Lanka's economy had expanded by 4.3% in the same quarter a year ago and saw full-year growth clock in at 3.5% in 2021.
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