Finance State Minister, Shehan Semasinghe, addressed Parliament on July 20th, expressing optimism about Sri Lanka’s potential to exit bankruptcy by September. The encouraging outlook comes as the country continues to implement key financial measures and economic reforms to overcome its fiscal challenges.
During the debate on the Central Bank Bill, Minister Semasinghe emphasized the significance of the Anti-Corruption Act, asserting that it will pave the way for transforming Sri Lanka into a corruption-free nation, instilling greater trust and credibility in its governance.
Highlighting recent achievements, the Minister celebrated Sri Lanka’s successful attainment of GSP (Generalized System of Preferences) tax relief for another four years, showcasing the international confidence in the country’s economic stability. He further reassured the nation’s commitment to prevent a recurrence of past economic difficulties by establishing a robust legal framework.
With the initiation of the e-procurement process, Minister Semasinghe expressed confidence in bolstering the country’s economy. He emphasized the importance of utilizing international trust and investments to develop the tourism industry and drive economic growth.
The State Minister’s positive assessment indicates that Sri Lanka is on the right track towards financial recovery and sustainable development, signaling promising opportunities for the nation’s future.