Reply To:
Name - Reply Comment
Last Updated : 2024-04-30 01:14:00
11 April 2024 01:16 pm - 25 - {{hitsCtrl.values.hits}}
COLOMBO, April 11- The Asian Development Bank’s (ADB) annual flagship economic publication, the Asian Development Outlook (ADO) April 2024, forecasts Sri Lanka’s economy to record moderate growth of 1.9% in 2024 and 2.5% in 2025 following 2 consecutive years of contractions.
According to the ADB, Sri Lanka is showing signs of recovery, with green shoots emerging in the second half of 2023 while inflation has decelerated to single digits, foreign exchange reserves continue to be built up, and the exchange rate has appreciated. Furthermore, tourist arrivals and remittance inflows continue to show a commendable recovery while supply conditions have improved.
ADB’s growth forecast hinges on the continuation of reforms and better consumer and business sentiment. Timely completion of external debt restructuring will also support Sri Lanka’s debt sustainability efforts.
“Sri Lanka has made commendable progress in implementing difficult policy reforms and stabilizing the economy in 2023,” said ADB Deputy Country Director for Sri Lanka Utsav Kumar.
“We are pleased to see the results of these reforms, with signs of recovery emerging. It is critical that Sri Lanka addresses the impact on the poor and vulnerable and also continues to implement reforms to address the underlying causes of the crisis and lay the foundation for fostering sustainable recovery, building resilience, and reviving growth.”
Addressing poverty vulnerabilities amid economic recovery is a major challenge faced by the country. Poverty gains eroded as a result of the COVID-19 pandemic and the subsequent economic crisis. As the economy stabilizes, the country must ensure that the most affected and vulnerable groups of people are supported, and high poverty incidence and income inequality are addressed.
This calls for appropriate institutional and structural frameworks for an inclusive social protection system with improved targeting. Creating jobs and fostering sustainable livelihoods would go a long way toward alleviating poverty.
Troy Thursday, 11 April 2024 02:35 PM
President is on right track. Pl don't fall for promises
RuwanL Friday, 12 April 2024 09:11 AM
Disagree withe you! He has been in parliament for over 50 years and also in leadership. If he is so good we won't be in this mess now! Don't believe in politicians who have been in leadership positions!
Gunadasa Friday, 12 April 2024 10:59 AM
Ruwan, you can't blame president for all mistakes done by all politicians during last 75 years. RW recovered the country from the disasterous bankruptcy so give him credit for his achievement
RuwanL Saturday, 13 April 2024 11:55 AM
Recovered? You are living in a fools paradise with bonds scam sugar scam etc and taking loans for survival! The loans the current president has taken will impact future generations and they will blame us for electing such leaders that only think of themselves! Remember we have not paid our loans for over 2 years!
Economic Situation Is Still Critical Thursday, 11 April 2024 03:45 PM
Once the loan payments with interest are due next year onwards, all these USD$ reserves collected over these past 2 years will be drained. Remember the monthly government expenditure is very high. Their current income is not enough to sustain these expenditure and new loans are always being added. The economic situation won’t change much anytime soon!
MGR Thursday, 11 April 2024 04:34 PM
This is an eye opener for some of the arm chair pundits who post comments in this column giving various adverse remarks re our economic picture. IMF, World Bank, ADA
This fella Seems to Be a Political Misfit Too Friday, 12 April 2024 01:13 PM
You are in dream land like the many out there. Most not aware these morons have taken over 17 IMF so far besides the other like ADB, Japan, China and European loans over the past years. With interest accumulating by the hour, it may take 3 to 4 generations to pay the current debts. Those currently being taken are not in accounted for. Your children and future generations will be blaming you too for taking a lax attitude and seeking free medical, education but not paying the correct taxes. Hope they will forgive you and the current generations!
Jim Thursday, 11 April 2024 04:41 PM
Hope our voters, who have a history for being suckers for the promises given by politicians, will not do it again
Alisandara Palangotta Thursday, 11 April 2024 05:57 PM
Right track to cheat people again!! Results of 50 years of useless contributions from Wal Aliya!!
KD Thursday, 11 April 2024 08:35 PM
Count on Sri Lankan people to f things up again by voting for JVP NPP
Condor Friday, 12 April 2024 02:15 PM
Very true. And we will end up in stone age again or six feet under.
73 Year OLD...CITIZEN; Personal Income Tax Payer. Thursday, 11 April 2024 08:51 PM
ADB does not know how the Genuine Individual Income Tax [IIT] Payer is suffering after the Personal Income Tax threshold is reduced to Rs.1.2 Million per Year. I am an IIT Payer since 1975 [last 48 years]; Now retired Without Pension after 30 years in the Private Sector. Personal Income Tax increased by Rs.90,000 per month after Threshold Reduction. Today's Medical Blood Tests - this morning- cost me Rs. 41000/- at a Private Hospital. How can we live without Starving?
Raven Thursday, 11 April 2024 09:25 PM
It's time yet again for the miserable opposition to hide themselves with this international agency saying progressive things about Ranil's government. Their only solace is Verite Research hahaha. Thank you, Ranil
Jude Thursday, 11 April 2024 10:27 PM
Hey ADB lend us More Money, will show you the momentum!! Yeah.
Lk Thursday, 11 April 2024 11:13 PM
As soon as He win the election all will go up and up … How long you can avoid giving all debts and interest .. As soon as you start giving all loans we will be empty handed you will see more queues
mila Friday, 12 April 2024 02:04 AM
The COVID-19 pandemic was created by the West to destroy economies around the world and kill people. The economy will recover fast when these doctors and other educated people come back to sri lanka. No, they care more about building up white men's countries!
TAKE THE RESPONSIBILITY FOR VOTING THEM IN. NOW VOTE FOR THE CANDIDATE THAT OPENING SAYS THEIR PARTY WILL SWEEP OUT WHAT HAS BEEN UNDER THE CARPET FOR THE PAST TWO YEARS. Friday, 12 April 2024 02:19 PM
SO, WHAT YOU EXPECT ALL EDUCATED DOCTORS AND OTHERS TO COME BACK AFTER MAJORITY OF IDIOTS, STOOGES, SUCKERS AND UNEDUCATED DIDN'T USE THEIR GOD GIVEN BRAINS AND VOTED FOR THE PAST TWO DECADES? PEOPLE MIGRATE WHEN THEY SEE NO FUTURE FOR THEIR CHILDREN AND OR THEMSELVES. PEOPLE WANT A LIFE WHERE THEY CAN SUPPORT THEIR CHILDREN THEMSELVES AND GRANDCHILDREN. NOW IT IS UPTO THOSE WHO VOTED SIRISENA/MR/GOTA AND THEIR CLAN TO USE THEIR BRAINS AND VOTE, KEEPING IN MIND THE CORRUPT/THEIR STOOGES WHO BROUGHT DOWN THE COUNTRY ARE LIVING HIGH LIVES AND FREE, WITH NO CHARGES OR BROUGHT BEFORE A COURT OF LAW.
Gt Friday, 12 April 2024 06:30 AM
Recovery on track due to heavy taxation on poor, if stolen loot was brought back, millions of people wouldn't need to suffer, to support luxurious lives for corrupt politicians, no progress, culprits still robbing sl
Tom Friday, 12 April 2024 01:55 PM
This is a myth spread by our politicians saying all our troubles will be over if we recover the stolen loot. AKD was given the task of getting the robbers to courts in 2015
Appuhami Friday, 12 April 2024 07:37 AM
When Anura Kumara comes to power, good luck
HOPE THEY GET KICKED OUT OF SOLOMON ISLAND AFTER UPCOMING ELECTIONS Friday, 12 April 2024 07:56 AM
NEVER TRUST A DICTATOR AND WE HAVE A FEW OF THEM IN THIS MATERIAL WORLD.
Sambo Friday, 12 April 2024 09:06 AM
Reform is not a word found in the Sri Lanka vocabulary.
Sam Friday, 12 April 2024 09:35 AM
Well watch out elections are close by, the numbers don't tally show the reforms that Ranil has done, no reforms done as yet. All talk, people wanted change dissolve the parliament take control of the situation.
Patcitz Friday, 12 April 2024 12:01 PM
No, utterly BULSHIT, everything shows in just DIGITS, life of the people of Sri Lanka is worse than 2021. After the IMF, the US puppet, launched a program under the intelligence of CIA to assist the US to destablize the CHINESE initiative
ANNECUNT Friday, 12 April 2024 12:13 PM
no recovery unless we get rid of Rajapaksas for ever. JAYAWEWA SRI-LANKA MEEDS ANOTHER ARAGALAYA
Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.
Reply To:
Name - Reply Comment
US authorities are currently reviewing the manifest of every cargo aboard MV
On March 26, a couple arriving from Thailand was arrested with 88 live animal
According to villagers from Naula-Moragolla out of 105 families 80 can afford
Is the situation in Sri Lanka so grim that locals harbour hope that they coul
