Marking the commencement of the Fifth Session of the Ninth Parliament, President Ranil Wickremesinghe outlined the government's commitment to alleviating the tax burden on citizens while spearheading economic reforms to stabilize Sri Lanka's economy.
Delivering the government's policy statement following the ceremonial opening of Parliament on February 7th, President Wickremesinghe emphasized the administration's dedication to implementing measures aimed at easing financial pressures on the populace.
Highlighting a notable positive shift in Sri Lanka's economic trajectory, President Wickremesinghe referenced the nation's resilience in the face of economic challenges.
Despite experiencing a 7.8% GDP contraction and enduring six consecutive quarters of negative growth in 2022, Sri Lanka rebounded with a 1.6% growth rate in the third quarter of 2023.
Moreover, the President announced a significant turnaround in the nation's economic landscape, noting a notable achievement of surplus by the end of 2023, following a 1.9% GDP deficit in 2022.
This marked the first occurrence of such surplus since 1977, underscoring Sri Lanka's economic resilience and progress.
The ceremonial opening of Parliament, which commenced with President Wickremesinghe's address, follows the prorogation of the Fourth Session of the Ninth Parliament on January 26th. Traditionally, the ceremonial opening of Parliament includes the President presenting the government's policy statement, formerly referred to as the Throne Speech, a practice previously carried out by the Governor.
