Government vows relief as it presses ahead on reforms
In a bid to accelerate the revival process, the government affirmed yesterday that it is on track to implement the long-neglected economic reforms crucial for the country’s progress.
However, despite the stabilisation of the economy, the people’s income has not kept pace with the rising cost of living, President’s Senior Adviser on National Security and Chief of Presidential Staff Sagala Ratnayaka said.
He assured that the government is actively pursuing reforms across all sectors, to provide maximum relief to the people. According to Ratnayaka, funds have been earmarked in this year’s budget to revive the small and medium-scale projects that faltered during the economic crisis.
“By fostering growth in the construction industry, it will be feasible to generate a significant number of jobs once again and the government has initiated the requisite programmes to facilitate this,” he said addressing an awareness conference on the 2024 Budget Proposals, in Matara, yesterday.
Touching on the International Monetary Fund (IMF) programme, Ratnayaka pointed out that unlike the other countries facing similar challenges, Sri Lanka’s swift agreement with the IMF instilled confidence in the international community.
“The IMF’S assurance that our economy could rebound was instrumental in charting our path forward. Subsequently, we initiated further reforms in consultation with the IMF and other international financial institutions, to address the people’s difficulties and secure relief,” he said.