President Ranil Wickremesinghe inaugrates fifth session of ninth Parliament of Sri Lanka

• The fifth session of the ninth Parliament of Sri Lanka was inaugurated by President Ranil Wickremesinghe today. Presenting the policy statement, President Wickremesinghe announced key economic highlights of his government. The president unveiled plans for economic revival which included a Debt restructuring strategy in the first six months of the year.
• Wickremasinghe outlined the positives for the island nation and added that tourism and industry were taking a positive turn. Plans were outlined to reduce the tax burden as economic reforms continue to stabilize the economy, while also revising the VAT percentage to further support economic growth. The President expressed optimism about achieving economic growth of 2% to 3% this year with scope for further increase in years to come.
• Sri Lanka is in the process of reviving its economy after it faced its worst-ever economic crisis over the last two years. India has been a crucial support through assistance of over 4 billion dollars and financing assurances to the IMF.

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Published date : 09 Feb 2024 04:42PM