Sri Lanka Signals Strong Economic Comeback: Treasury Secretary

COLOMBO (News 1st); Sri Lanka is emerging as a compelling investment destination, showcasing a remarkable turnaround in political, economic, and social stability, according to Dr. Harshana Suriyapperuma, Secretary to the Treasury.

Speaking on the country’s transformation, Dr. Suriyapperuma emphasized that Sri Lanka now has a success story to share with the world.

“Political stability has been restored with a two-thirds majority in Parliament. Economic indicators show consistent improvement, and social stability has returned, allowing citizens to resume normal activities — including the importation of motor vehicles, which had been suspended for nearly five years,” he said.

He credited the transformation to decisive political leadership and a commitment to upholding the rule of law. 

This is not just about statements, but about action. We are demonstrating that no one is above the law, and that equal opportunities exist for investors and businesses alike,” he added.

Dr. Suriyapperuma highlighted the country’s economic performance, noting eight consecutive quarters of GDP growth, with the most recent quarter nearing 5% growth. 

He also pointed to the strengthening of foreign reserves, even as import restrictions have been eased — allowing high-quality vehicles from countries like Germany to re-enter the market.

In a historic first, Sri Lanka is now meeting its monthly revenue targets consistently, and all three major revenue agencies — the Inland Revenue Department, Sri Lanka Customs, and the Excise Department — are exceeding their annual targets.