Sri Lanka’s economy has stabilised with growth expected to reach 4.4 percent in 2024, surpassing earlier forecasts,
the World Bank said in its bi-annual Sri Lanka Development Update report, titled Opening Up to the Future, released yesterday.
This positive outlook follows four consecutive quarters of growth driven by the industrial and tourism sectors and supported by critical structural and policy reforms, the World Bank said.
However, the report cautions that the recovery remains fragile and hinges on maintaining macroeconomic stability, successfully restructuring debt and continuing structural reforms to increase medium-term growth and reduce poverty.
The third tranche of the bailout package was released in mid-June as the Washington-headquartered global lender said on August 2 that Sri Lanka’s economic reform programme has yielded good results. The World Bank’s bi-annual Sri Lanka Development Up…
