Sri Lanka has recorded a 4.7% GDP growth in the second quarter of 2024, marking the fourth consecutive quarter of positive growth following six quarters of economic contraction since 2022. State Minister of Finance, Shehan Semasinghe, shared the update on X (formally Twitter), pointing to the success of ongoing reforms.
“This recovery reflects the effectiveness of the reforms we’ve put in place. Our economy is not just stabilizing; it’s on track for sustainable growth,” Semasinghe stated.
The minister also noted that growth is expected to continue strongly, with projections of a 4-4.5% increase by the end of 2024, significantly exceeding the IMF’s initial target of 2%. “We are confident that the reforms will lead to long-term prosperity, far surpassing early predictions,” he added.
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