Next Three Years Crucial for Economic Recovery, Warns President

COLOMBO (News 1st); Sri Lanka President Anura Kumara Dissanayake has warned that the next three years will be the most crucial for the country as it prepares to resume debt repayments in 2028.

He highlighted that the nation has a three-year grace period and stressed the need to utilize this time effectively.

President Dissanayake underscored the necessity of meticulous planning and cautious execution of economic decisions. 

He warned that even small missteps could lead to significant setbacks, given the fragile state of the economy. 

To ensure well-considered decisions, all economic choices will be made collaboratively, involving the Secretary of the Ministry of Finance, the Governor of the Central Bank, and political authorities.

The President emphasized the importance of learning from past mistakes to avoid repeating them. He assured the public that the government is committed to making informed and prudent decisions. Currently, the country lacks economic independence, limiting its ability to implement decisions freely. However, the President expressed determination to navigate these challenges effectively.

The President said that the 2025 budget was crafted within existing limitations, with efforts to avoid significant tax increases and to make beneficial adjustments where possible. The goal is to balance fiscal responsibility with economic growth.