President Ranil Wickremesinghe, reading the national budget proposals said an allocation of Rs. 50 billion has been made to support the SMEs.

Year 2024 will also see the establishment of a special loan scheme amounting to Rs.30 billion which will be implemented with support from the Asian Development Bank (ADB).

The President pointed out that since the economic crisis, about 20 percent of the SMEs have wrapped up operations.

SMEs account for about 50 percent of Sri Lanka's economy.