What is needed is economic growth, not publicity stunts

Three years after Sri Lanka plunged into its worst economic crisis since independence, the country’s economy has regained a measure of stability. Foreign reserves have improved, inflation has eased, tourism is recovering, and the immediate threat of sovereign default has receded. Yet stability is not growth. It is merely the foundation upon which growth must be built.

The government today appears increasingly preoccupied with managing perceptions rather than accelerating economic expansion. Social media campaigns, carefully crafted videos, promotional events and public relations exercises dominate the communication strategy. While effective communication is an important component of governance, it cannot substitute for substantive economic progress.

The central challenge facing Sri Lanka is no longer economic stabilization. It is growth. The country cannot tax its way to prosperity, nor can it borrow endlessly to finance development. Sustainable growth requires investment, productivity improvements, export expansion and private sector confidence. Unfortunately, progress on these fronts remains slower than expected.

Foreign direct investment continues to lag behind regional competitors. Investors seek policy consistency, regulatory certainty and efficient institutions.  Yet Sri Lanka remains burdened by bureaucratic delays, overlapping regulations and cumbersome approval processes. Successive governments have spoken about transforming the country into an investment hub, but investors often encounter the same obstacles that have existed for decades. Announcements alone do not create investments. Reforms do.

The government has repeatedly highlighted individual investment projects and signed agreements. However, the real measure of success is not the number of memoranda signed but the volume of projects that actually commence operations, create jobs and generate exports. There remains a significant gap between investment announcements and implementation on the ground.

At the same time, the country’s export sector requires urgent attention. Sri Lanka continues to rely heavily on a limited basket of exports. The nation has long discussed diversification, value addition and integration into global supply chains. Yet tangible progress remains modest. Competitor countries in Asia continue to attract manufacturing investment and expand export capacity while Sri Lanka risks losing valuable opportunities due to policy inertia.

Small and medium-sized enterprises, which form the backbone of the economy, continue to struggle with high borrowing costs, weak consumer demand and limited access to finance. Many businesses survived the economic crisis only to confront a prolonged period of slow growth. Entrepreneurs require more than motivational messages. They need practical support, improved market access and a predictable business environment.

 Youth unemployment and underemployment remain another pressing concern. Thousands of educated young Sri Lankans continue to seek opportunities abroad. The outflow of skilled professionals may have slowed compared to the peak of the crisis, but the underlying drivers remain. Without robust economic growth and the creation of quality jobs, Sri Lanka risks a continued loss of talent that will undermine long-term development prospects.

 Agriculture, too, requires a coherent growth strategy. Farmers need access to affordable inputs, technology and markets. Industrial policy must encourage competitiveness rather than dependency. Tourism requires product diversification and infrastructure improvements. These are areas where policy execution matters far more than publicity campaigns.

Economic indicators may show improvement, but many households continue to struggle with the high cost of living. Real incomes remain under pressure. Consumers remain cautious. Businesses remain uncertain. Under such circumstances, excessive emphasis on promotional content can create the perception that the government is more focused on image management than economic transformation.

Social media has become an indispensable tool for modern governments. It allows leaders to communicate directly with citizens, counter misinformation and promote policy initiatives. There is nothing inherently wrong with using these platforms. The problem arises when communication begins to overshadow performance.

Economic recovery is not complete when inflation falls or reserves rise. Recovery becomes meaningful only when families experience better living standards, businesses expand operations and young people see a future within their own country.

Sri Lanka does not need more publicity. It needs faster growth.