World Bank says Sri Lankan economy to expand 2.2 pct in 2024

Sri Lankan economy is expected to expand by 2.2 percent in 2024 and reach 3 percent in 2026, assuming successful debt restructuring negotiations and the implementation of structural reforms, according to the World Bank's latest Global Economic Prospects report on Friday.

In early 2024, private sector activity picked up in several countries, including Pakistan and Sri Lanka, said the report, adding that in Sri Lanka, activity has strengthened, and tourism and remittances have also recovered, though they have remained below the pre-pandemic level.

The growth in the South Asia region is projected to slow to 6.2 percent in 2024 and stay at that rate over 2025-26, according to the report.