Sri Lanka’s recent economic performance has been strong, but the recovery remains incomplete, the World Bank said on Tuesday.
“With growth still below pre-crisis levels and poverty significantly elevated, strengthening the recovery will require continued macroeconomic stability, urgent structural reforms, and more efficient, better-targeted public spending, it said.
Sri Lanka’s economy crashed in 2022 due to a forex crisis stemming from the COVID-19 pandemic and other flawed political and economic management reasons since 2019. The current turnaround was aided by the four-year IMF bailout of nearly 3 billion USD pinned to a stringent reform regime.
While Sri Lanka’s recent economic progress is encouraging, the recovery is uneven and incomplete, said David Sislen, World Bank Division Director for Maldives, Nepal, and Sri Lanka.
The World Bank projects Sri Lanka’s economy to grow by 4.6 per cent in 2025 supported by a modest rebound in industry and steady growth in services before​Sri Lanka’s recent economic performance has been strong, but the recovery remains incomplete, the World Bank said on Tuesday.
“With growth still below pre-crisis levels and poverty significantly elevated, strengthening the recovery will require continued macroeconomic stability, urgent structural reforms, and more efficient, better-targeted public spending, it said.
Sri Lanka’s economy crashed in 2022 due to a forex crisis stemming from the COVID-19 pandemic and other flawed political and economic management reasons since 2019. The current turnaround was aided by the four-year IMF bailout of nearly 3 billion USD pinned to a stringent reform regime.
While Sri Lanka’s recent economic progress is encouraging, the recovery is uneven and incomplete, said David Sislen, World Bank Division Director for Maldives, Nepal, and Sri Lanka.
The World Bank projects Sri Lanka’s economy to grow by 4.6 per cent in 2025 supported by a modest rebound in industry and steady growth in services before ​Latest News [ SOBAN NEWS: International and National ]
