CCC calls for speedy implementation of structural reforms

As Sri Lanka enters the second half of its four-year IMF programme, it is crucial that the government accelerates the implementation of structural reforms essential for sustainable growth, the Ceylon Chamber of Commerce (CCC) said.

It highlights five priority areas; which are (1) trade facilitation reforms, including the National Single Window and the new Customs Act; (2)Advancing Digital ID and Digital Public Infrastructure (3) Enacting critical legislation such as the Economic Transformation Act, (4) Strengthening governance reforms to enhance the investment and business environment, and (5) Widening the tax net to achieve the fiscal targets through improved revenue administration and digitalisation. 

The chamber in a statement also congratulated the government for successfully completing the third review under the IMF Extended Fund Facility (EFF) Arrangement. 

“The IMF Board’s latest approval and the subsequent disbursement will provide much-needed support for Sri Lanka’s ongoing economic recovery,” it said.