HNB's Vision for a Diverse and Digitalized Sri Lankan Resurgence

Sri Lanka's economy contracted by 7.3 percent in 2022 and 2.3 percent in 2023, but is estimated to achieve 4.5-5 percent GDP growth in 2024 and 2025.

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Inflation dropped from 69.8 percent in September 2022 to a deflation of 1.7 percent by late 2024 with a return to five percent in early 2025. Successful negotiations for a USD 12.5 billion debt-restructuring plan could save USD 9.5 billion in servicing costs over four years. Post-crisis reforms have lead to key improvements, highlighting the need for bold policy decisions and public-private collaboration. To reimagine its economy amidst global volatility, Sri Lanka should invest in infrastructure, education, and technology, while addressing the struggles of MSMEs through enhanced grassroots capacity and innovation.

The private sector, especially the new generation of Sri Lankans, is essential for transformation. We must address past poor practices and seize opportunities for healthy growth. Attracting foreign direct investment (FDI) and adopting global best practices are crucial for a prosperous future. HNB is aligning its strategies to support these national goals and aid the country's resurgence, said Damith Pallewatte, MD/CEO, HNB.