SRI LANKA’S ECONOMIC RECOVERY
While costs remain raised, they are a far cry from the top of 70 per cent. The rate has stabilized at about 1 % right now.  ,
Sri Lanka’s gross domestic product ( GDP ) grew over the last three quarters, after contracting by double digits at the height of the crisis.  ,
Mr. Sabry cited Sri Lanka’s “remarkable success” in moving from a double-digit crisis to a 5.3 % increase.
” Tourists are coming up. Our reserves have increased, and the Sri Lankan rupee has increased by 20 %. And for the first time after six decades, we have a major consideration balance. So all the signals are in the proper place”, he said during the broad- ranging interview.
But, according to World Bank projections, the rate of poverty has doubled since 2021, with a quarter of the population living below the poverty line.  ,
Mr. Sabry claimed that the government has tripled the direct cash payments made available to those who live below the poverty line, or 2 million people, and that this prone segment of the population is more impacted by the prices.  ,
The idea is to protect the most vulnerable, encourage growth, and maintain it over time so that the economy wo n’t ever go back on track, ever to the predicament we faced two years ago, he said.
According to him, sustainable growth that does n’t hurt the poor disproportionately calls for the nation to fight corruption, increase the efficiency of services, and close the digital divide.
Sri Lanka also needs to put money into initiatives to strengthen its economy, such as solar power, relationship development, and making the country a hotspot for air and maritime traffic, according to Mr. Sabry.