Sri Lanka’s Prime Minister Sees Fragile Economy Through 2028
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Sri Lanka’s new government will be restricted in how much it can spend for at least the next two years, the prime minister said, as it looks to balance campaign pledges to unwind tax increases and other austerity measures against limits set by its $3 billion bailout program.
Despite an unprecedented mandate that handed his government a supermajority in parliament, President Anura Kumara Dissanayake has had to rein in plans to lower taxes on health and education because of conditions under the 2023 International Monetary Fund bailout, Harini Amarasuriya said Tuesday.