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SL economy grows by 5.3% in 2024 1Q

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State Minister of Finance Dr. Ranjith Siyambalapitiya said that according the latest report by the Department of Census and Statistics, Sri Lanka’s economy has grown by 5.3 percent in the first quarter of 2024, while the industrial sector has also grown by 11.8 percent.

Speaking to the media yesterday, the State Minister said that as a country which recorded a negative growth of 12 percent in the last quarter of 2022, the positive growth recorded after overcoming unprecedented obstacles was a sign that Sri Lanka was on the path of rapid recovery.

Citing World Bank forecasts, the State Minister said Sri Lanka’s economy will grow by 2.2 percent this year.

He said that it is commendable to be able to achieve an economic growth of more than 2 percent in two years in a country where the economy recorded a minus growth of seven percent two years ago.

The State Minister pointed out that the programme followed by Sri Lanka has been clearly approved by the International Monetary Fund and cautioned that however, the country was yet to achieve full recovery and hence should proceed with vigilance.

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