The government has responded to crises by taking a series of measures to stabilize the economy and gradually bring back economic growth in a much more sustainable manner going forward, with structural reforms, said Mahinda Siriwardana, Secretary to the Treasury.
After the extremely challenging period of turbulence in 2022, the Sri Lankan economy is gradually showing signs of stability on many economic fronts supported by these reform measures. With initial indications of moving out of recession towards recovery and eventually growth there’s no room for complacency and no margin for error to deviate from the initial reform part.
He said given the recent recovery and prevailing vulnerabilities, the consequences of such a shift would be devastating. As in many developing and emerging market countries, Sri Lanka’s SMS have contributed to the long fiscal and national crisis which led to the call for social reform and restructuring.
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