State Minister of Finance, Ranjith Siyambalapitiya, has disclosed plans to revisit the recently issued circular that relaxed import restrictions on buses and lorries intended for public transport use. This decision underscores the government’s commitment to ensuring financial stability.
The State Minister’s announcement comes on the heels of remarks from IMF staff, which indicated that despite initial signs of stabilization, Sri Lanka’s path to complete economic recovery remains uncertain.
Sri Lanka’s economic growth momentum has remained subdued, with the second-quarter real GDP contracting by 3.1% on a year-on-year basis. Furthermore, the country’s high-frequency economic indicators continue to send mixed signals, adding to the complexity of the recovery process.
