Sri Lanka’s economy,
The World Bank has warned that there is no immediate recovery from the crisis that Sri Lanka is currently facing in various ways and that Sri Lanka’s economy, which is struggling with power, food and fuel shortages, could fall by 7.8 percent this year.
The World Bank has pointed out that Sri Lanka’s economic growth is set to improve to a favorable level by 2024 – due to the economic crisis that has erupted as Sri Lanka has never had a full-fledged foreign exchange crisis in its history.
World Bank forecast
The World Bank predicts that Sri Lanka’s economy will fall by 3.7 percent in 2023. Sri Lanka’s growth prospects have plummeted for a number of reasons, including the suspension of foreign lending.
The World Bank says Sri Lanka’s growth prospects are highly uncertain and risk a significant fall.