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Reuters
Reuters
Business

Sri Lanka economy could shrink by -3.5% to -4%, president says

Ranil Wickremesinghe Economy Sri Lanka
FILE PHOTO: A vendor waits for customers at a shoe shop in the main market as Sri Lankan President Ranil Wickremesinghe announced 2023 budget amid the country's economic crisis, in Colombo, Sri Lanka, November 14, 2022. REUTERS/ Dinuka Liyanawatte

Sri Lanka's economy could contract by -3.5 or -4.0% in 2023 after shrinking -11% last year, President Ranil Wickremesinghe said on Saturday.

"From 2024, we will take this economy to positive growth. We are creating a strong country that does not bow down to anyone and is debt-free," he said.

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