Minister of State for Finance Shehan Semasinghe has announced that a delegation from the International Monetary Fund (IMF) will visit Sri Lanka next week to review the country’s economic progress and discuss future measures.
Speaking to the media, Minister Semasinghe highlighted the importance of maintaining economic stability during the upcoming election season. He explained that preparations are underway for the third review following the completion of the second review related to the release of the third tranche. However, he clarified that the upcoming visit is not specifically for the third review but rather to assess the current economic situation and plan future strategies.
Minister Semasinghe expressed optimism about Sri Lanka’s economic growth, noting that the economy achieved a growth rate of 5.1% in the first quarter of this year. Despite forecasts predicting a 2% growth rate, he believes that the economy will grow between 3% and 3.5% this year. He emphasized that achieving and maintaining this growth rate is crucial, especially considering the significant economic contraction of 7.8% in 2022. He also stated that reaching a 3.5% growth rate this year would be a notable accomplishment for the country.
The minister expressed confidence that the election season would not hinder economic growth. He stated that if there are no significant obstacles, Sri Lanka will achieve its projected growth rate for the year.
