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Sri Lanka s economy contracted by 3.1% in the second quarter, according to official data. The downturn was caused by high inflation, a depreciating currency, and reduced purchasing power. The agriculture sector grew by 3.6%, while industries contracted by 11.5% and services dropped by 0.8%. ....
'Poorer households are the hardest hit owing to food inflation, job losses, limited fertiliser supply and drop in remittances,' said professor Athukorala, who led the study. ....
A statement issued by the Prime Minister's Office said that Mahinda Rajapaksa intends to propose a new Constitutional Amendment to the Cabinet in order to fulfil the people's aspirations, reported PTI. ....