Srilanka Increases in the economy forces….

According to the World Bank’s twice-yearly update, Sri Lanka’s increased fiscal, external, and financial sector imbalances as well as its unstable political situation pose serious risks to the country’s economic outlook. This highlights the necessity of addressing the underlying reasons behind the country’s economic crisis and creating a strong and resilient economy in order to avert further crises.

The Sri Lanka Development Update (SLDU), Time to Reset, published today (April 4) predicts that the country’s economy would collapse by 4.3 percent in 2023 as demand remains weak, job and income losses worsen, and supply-side limitations negatively impact production.