website hit counter
Sunday, October 26, 2025
Sunday, October 26, 2025

HomeNewsSri Lanka’s Economy Grows by 5.0% in 2024, Rebounding from Crisis

Sri Lanka’s Economy Grows by 5.0% in 2024, Rebounding from Crisis

Sri Lanka’s Economy Grows by 5.0% in 2024, Rebounding from Crisis

spot_img

Sri Lanka’s economy grew by 5.0% in 2024 despite concerns that elections could further strain the crisis-hit nation, official data showed on Tuesday.

The Department of Census and Statistics announced that the country’s Gross Domestic Product (GDP) expanded by 5.0% for the year. Sri Lanka held two crucial elections in September and November 2024, which led to the country’s first left-leaning president and government.

The economy had contracted in both 2022 and 2023 amid its worst financial crisis in decades, triggered by a foreign exchange shortage that resulted in a sovereign default.

“After two consecutive years of GDP decline, Sri Lanka’s economy recorded positive growth in 2024, paving the way for further optimism,” the department stated.

spot_img

Latest articles

Gunman in Weligama PS Chairman’s Murder Arrested in Maharagama

Police announced that the individual suspected of being the gunman in the assassination of...

Yal Devi Train Guard Arrested Mid-Journey for Being Drunk on Duty

The main train guard of the Jaffna-to-Colombo 'Yal Devi' express train was arrested yesterday...

ChatGPT Nation? Sri Lanka Leads in AI Job Growth — and Job Loss Risk

Sri Lanka has emerged as one of South Asia’s most AI-exposed economies, showing rapid...

Police Hunt for ‘Anurada’ Tattoo Suspect in Weligama PS Chairman’s Murder

Police have appealed to the public to help locate a key suspect wanted in...

More like this

Gunman in Weligama PS Chairman’s Murder Arrested in Maharagama

Police announced that the individual suspected of being the gunman in the assassination of...

Yal Devi Train Guard Arrested Mid-Journey for Being Drunk on Duty

The main train guard of the Jaffna-to-Colombo 'Yal Devi' express train was arrested yesterday...

ChatGPT Nation? Sri Lanka Leads in AI Job Growth — and Job Loss Risk

Sri Lanka has emerged as one of South Asia’s most AI-exposed economies, showing rapid...