Stalled development projects to resume in 2024

by Zulfick Farzan 15-12-2023 | 10:48 AM

COLOMBO (News 1st); Over 200 development projects, initiated with foreign aid but halted midway, are set to recommence in the first quarter of the next year, said State Finance Minister Shehan Semasinghe.

Speaking at a news conference held at the Presidential Media Centre (PMC) on Thursday (14), Semasinghe said that this move comes following the approval of the second tranche of the International Monetary Fund (IMF).

He also said that political stability was reflected in the passage of the 2024 budget proposal, and underscored that this year’s budget provides the necessary groundwork for effective management of state income and expenditures.

Pointing out that the country’s economy is not at a level where popular political slogans can be used to find solutions, the State Minister emphasized that there was no other option but the program with the International Monetary Fund.