COLOMBO (NewsRadio); Cabinet Spokesman Minister Bandula Gunawardena says Sri Lanka’s economy will contract in the year 2023 as well.
Speaking during a media briefing at the Department of Government Information this morning, Minister Bandula Gunawardena said Sri Lanka’s economy contracted by more than 7 percent in 2022 and the exact figures will be published once the data from the last quarter are finalized.
The Minister said it is impossible to turn around an economy which contracted by over 7 percent last year to positive trajectory immediately.
He said therefore the country’s economy will contract this year as well.
Minister Bandula Gunawardena noted that the government is focused on debt restructuring at present and once the agreements are reached they will seek more financing to strengthen the economy.
The Minister said until financing agreements are reached, the government will struggle to find funds to pay salaries of state sector workers as well.