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Reuters
Reuters
Business
By Uditha Jayasinghe

Sri Lanka flags return to growth, protesters demand tax cuts

Sri Lanka's President Ranil Wickremesinghe arrives with commanders of three forces to attend the country's 75th Independence Day celebrations in Colombo, Sri Lanka February 4, 2023. REUTERS/Dinuka Liyanawatte

Sri Lanka's economy is expected to grow again from the end of this year and the government hopes the country will emerge from an economic crisis by 2026, the president said on Wednesday, as hundreds protested a recent rise in taxes amid high inflation.

The island of 22 million has been battling its worst economic turmoil since independence from Britain in 1948, which has forced it to default on loans and seek a bailout of $2.9 billion from the International Monetary Fund (IMF).

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