World Bank projects SL’s economic growth to reach 3% by 2026

14 June 2024 08:25 pm Views - {{hitsCtrl.values.hits}} 5 Bookmark

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June 14 - The World Bank has projected a notable upswing in Sri Lanka's economic growth, forecasting a robust 3% expansion by 2026.

This optimistic outlook is contingent upon the successful execution of key initiatives, including debt restructuring negotiations and the implementation of structural reforms aimed at mitigating the adverse impacts of planned fiscal consolidation.

Based on the statement by the World Bank, Daily Mirror in April reported that Sri Lanka is likely to witness a modest growth of 2.2 percent in 2024.

The 2.2 percent growth in 2024, marks a 0.5-percentage-point upward adjustment from January's estimates.

Furthermore, the World Bank noted that the growth momentum in the South Asian Region surged to 6.6 percent in 2023, largely propelled by robust expansion in India.

Early 2024 continued to witness strong activity in India, albeit with private sector activity still subdued in several countries, including Pakistan and Sri Lanka.

In the case of Sri Lanka, following a contraction in 2023, economic activity has rebounded, supported by the recovery of tourism and remittances, albeit remaining below pre-pandemic levels.

Comments - 5

Ramaswamy Friday, 14 June 2024 08:45 PM

It will be possible, if Ranil stays in power. If in case NPP comes in to power, everything will be kaput.

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RetiredRowdy Sunday, 16 June 2024 01:56 PM

The looters are there in the government to put there hand in! Former health minister was allowed to pilfer until such time, his arrest became inevitable! There are many and the latest is visa scam. No way this country to recover!!

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Pinsiri Weragoda Friday, 14 June 2024 10:12 PM

No other person can achieve the difficult but fruitful targets than Ranil. No leader is capable of personally looking into and driving the government like Ranil does. If the country was in a normal condition of course then anybody could run it.

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Citizen Saturday, 15 June 2024 08:17 AM

Until such time we will continue to pay for others sins and live in poverty.

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S.K Kumara Saturday, 15 June 2024 09:32 AM

Really ? According to the data within the publication of our government, we have reached figure 3% growth several months back including reaching a steady low inflation of less that 1%. Did WB know this facts ? Either WB is so dumb or we are making stuff up. My guess is the second one.

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