Sri Lanka’s gross domestic product (GDP) grew by 4.7% in the second quarter of 2024, marking the fourth consecutive quarter of positive growth after six quarters of contraction since 2022, according to the State Minister of Finance.
“This recovery reflects the effectiveness of ongoing reforms,” State Minister Shehan Semasinghe stated in a post on ‘X’ (formerly Twitter).
Semasinghe added that the growth rate is expected to remain robust, with forecasts projecting a 4% – 4.5% increase by the end of the year, significantly surpassing the International Monetary Fund’s (IMF) initial target of 2%.
“This positive trajectory highlights the success of the government’s efforts in stabilizing the economy and promoting sustainable development,” he concluded.
