2024 presents opportunities for achieving financial and economic growth – Minister

Minister of Trade, Commerce and Food Security Nalin Fernando expressed optimism about the country’s economic prospects during a press conference on the theme of ‘Collective Path to a stable country, held at the Presidential Media Center on Wednesday (04).

He stated that with the government’s efforts to reduce economic contraction, there is a possibility of achieving a robust economic growth rate of 1.8% to 1.9% in 2024. “According to current forecasts, achieving a financial economic growth rate of 1.8% to 1.9% in 2024 is possible. One of the key objectives of our economic policy program was to address the high cost of living for consumers.” he said

The minister highlighted that the government’s prudent policy decisions in the previous year have led to a significant economic recovery and brought inflation down to single digits.

Regarding ongoing negotiations with the International Monetary Fund (IMF), he mentioned, “We are currently in discussions for the second tranche of the IMF program. In our recent talks with the IMF, we focused on meeting the goals they set for us. Although there were some delays in generating state revenue, the government has diligently worked on it and implemented various policy decisions with effective leadership.”

(PMC)