September 15, Colombo (LNW): Sri Lanka has reported a 4.7 per cent increase in gross domestic product (GDP) for the second quarter of 2024, marking a notable fourth consecutive quarter of economic expansion after experiencing six quarters of decline since 2022.
The announcement was made by State Minister of Finance, Shehan Semasinghe, who attributed this rebound to the effectiveness of the government’s ongoing economic reforms.
Minister Semasinghe shared his optimism on social media platform ‘X’, indicating that the nation’s growth momentum is anticipated to sustain its strength.
He forecasted an annual growth rate of 4 per cent to 4.5 per cent by the end of the year, a figure that significantly surpasses the International Monetary Fund’s (IMF) initial projection of 2 per cent for the country.
This revised outlook signals a faster-than-expected economic recovery, which is being seen as a validation of the government’s strategies to stabilise the economy.
