Exploring Sri Lanka’s Economic Transition from Crisis to Recovery

Sri Lanka has experienced a tumultuous economic journey in recent years, with the country facing a severe economic crisis in 2018. However, the Sri Lankan government has implemented a series of reforms and initiatives to help the country transition from crisis to recovery. This article will explore the various measures taken by the government to achieve this goal.

The first step taken by the Sri Lankan government was to reduce the budget deficit. This was done by cutting government spending, raising taxes, and increasing foreign borrowing. The government also implemented a number of structural reforms, such as reforming the tax system and improving the business environment. These measures have helped to reduce the budget deficit and create a more stable macroeconomic environment.

The second step taken by the government was to promote economic growth. This was done by encouraging foreign investment, improving access to finance, and providing incentives for businesses to invest in the country. The government also implemented a number of policies to support small and medium-sized enterprises (SMEs). These measures have helped to create jobs and boost economic growth.

The third step taken by the government was to reduce poverty and inequality. This was done by increasing access to basic services such as healthcare and education, as well as providing social protection programs for vulnerable populations. The government also implemented a number of measures to improve the livelihoods of farmers and fishermen. These measures have helped to reduce poverty and inequality in the country.

Finally, the government has taken steps to improve the country’s infrastructure. This includes investing in roads, ports, and airports, as well as improving access to electricity and water. These measures have helped to improve the business environment and attract foreign investment.

Overall, the Sri Lankan government has taken a number of steps to transition from crisis to recovery. These measures have helped to reduce the budget deficit, promote economic growth, reduce poverty and inequality, and improve infrastructure. As a result, the country is now on a much more stable footing and is well-positioned for future economic growth.

Source: news.google.com

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