COLOMBO. Dec 31: Sri Lanka's economy performed satisfactorily in 1992 despite a drought that affected agricultural and industrial production. a government minister said on Thursday, reports Reuter. ,

Industries Minister Ranil Wlckremasinghe told re-, porters that the tea sector in particular had been hit by the drought and power cuts had hampered manufacturing.

However, he said, exports were up and investment in industry has increased. Two hundred garment factories have opened in rural areas.

There are 40 new hotel*

projects waiting for approval at the moment, Wlckremasinghe said.

With the world economy improving, we expect a better economic performanbe next year, he said.

Srl Lanka's gross domestic product was expected to grow by 4.5 per cent In 1992, down from 4.8 per cent in 1991. It is expected to reach about five per cent in 1993, economists told Reuters this week.

Wlckremasinghe said growth figures had been calculated without taking into account the north and east, where a nine-year civil war has hampered economic activity.