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CBSL says economy performed better than expected in 2024 but journey far from over
Daily FT
|April 08, 2025
THE Central Bank has described that the economy in 2024 performed better than expected whilst insisting challenges remain going forward.
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This assessment is contained in the 2024 Annual Economic Review released yesterday, the first copy of which was presented to President Anura Kumara Disanayake.
Following contains key highlights of the review according to the CBSL:
The Sri Lankan economy continued to recover steadily in 2024, following its deepest economic downturn experienced two years ago. The road to recovery was difficult, but notably faster compared to most debt-distressed countries. Post-crisis reforms have started showing positive outcomes.
Signs of improved economic activity, partial recovery in purchasing power, and reduced uncertainty are visible. Election-related uncertainties dissipated towards the latter part of 2024 as signs of the continuation of the reform program and policy consistency were evident. This, along with the near-completion of external debt restructuring and the country's exit from restricted default rating, has enhanced investor and stakeholder confidence.
This story is from the April 08, 2025 edition of Daily FT.
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