The Sri Lankan economy started showing signs of gradual recovery during the latter part of 2023. Positive economic growth was recorded by the Sri Lankan economy in the third quarter of 2023, following consecutive contractions since the first quarter of 2022. Leading economic indicators signal the continuation of the strong pace of activity during the last quarter of 2023, Central Bank Governor Dr Nandalal Weerasinghe said on Wednesday presenting the banking regulator’s annual policy statement for 2024.
It said the challenges that the Sri Lankan economy and its people experienced during the last few years have been the most arduous in the country’s post-independence history. Policy measures taken thus far helped restore stability, albeit with some significant socio-economic costs.
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