The latest Global Economic Prospects report from the World Bank forecast a 2.2 percent growth for Sri Lanka’s economy in 2024.
This represents a positive revision of 0.5 percentage points from January, driven by gradual improvements in remittances and tourism.
This World Bank report in June titled Global Economic Prospects said that tourism and remittances have recovered following the contraction in the economy in 2023.
However the report said that these sectors still remain below pre pandemic levels.
“In Sri Lanka, the economy is expected to expand by 2.2 percent in 2024, a 0.5-percentage-point upward revision from January”, the report said.
The World Bank indicates that foreign exchange reserves have increased in several countries, including Pakistan and Sri Lanka, reflecting the easing of currency pressures and receipts of official flows, but reserve levels in some countries remain low.
