In a morning session on February 7, President Ranil Wickremesinghe formally presented the government’s policy statement to the House, marking the commencement of the Fifth Session of the Ninth Parliament. Emphasizing the ongoing stabilization of the country’s economy through the implementation of economic reforms, the Head of State outlined the government’s commitment to reducing the tax burden on the populace in the future.
President Wickremesinghe highlighted a remarkable surge in tax registration, noting a substantial increase from 437,547 registrants in 2022 to an impressive 1,000,029 by the close of 2023, reflecting a notable 130% growth.
Addressing the positive shift in Sri Lanka’s economic trajectory, the President underscored the nation’s resilience. Despite a 7.8% GDP contraction and six consecutive quarters of negative growth in 2022, Sri Lanka rebounded with a 1.6% growth rate in the third quarter of 2023.
Furthermore, President Wickremesinghe announced a significant turnaround in the economic landscape, revealing that despite a 1.9% GDP deficit in 2022, the island nation achieved a surplus by the end of 2023, marking the first such occurrence since 1977.
The ceremonial opening of the Parliament and the delivery of the government’s policy statement took place after the proroguing of the Sri Lanka Parliament from midnight on January 26, signifying the closure of the Fourth Session of the Ninth Parliament.
The upcoming adjournment debate on the government’s policy statement is scheduled over two days, on Thursday (Feb. 08) and Friday (Feb. 09), from 9:30 a.m. to 5:30 p.m.
