Central Bank Governor Dr. Nandalal Weerasinghe says Sri Lanka’s economic recovery is progressing faster than initially anticipated, with the country expected to surpass pre-crisis levels within the next year.
In an interview with Channel News Asia, Dr. Weerasinghe said economic reforms were delivering results more quickly than predicted at the height of the crisis.
“Once a country is hit with a crisis, it will take four to five years to come back to the same level to recover the output loss. In our case, within three years, we have almost reached there,” he said.
The Governor expressed confidence that within the next year, Sri Lanka will exceed pre-crisis levels in key areas such as employment, poverty reduction, incomes, and cost of living.
“Incomes will be comparable with the high cost of living within the next couple of years. Which means, in the next three to five years, we will be able to reach levels where we were before,” he added. (Newswire)
