Sri Lanka Can Reclaim 2019 Economy by Next Year, Says President

COLOMBO (News 1st); President Anura Kumara Dissanayake has expressed confidence that Sri Lanka is on course to achieve a rapid economic recovery, defying conventional forecasts that typically predict a decade-long rebound following a national financial collapse.

Speaking on the country’s economic trajectory, the President cited recent international reports that recognize Sri Lanka as a nation demonstrating swift post-crisis recovery.

“Economists often say that when an economy collapses, it loses a decade. If we collapsed in 2022, we should expect to recover by 2032. But we believe we can return to our 2019 economic levels by next year,” he stated.

President Dissanayake emphasized that this projection is not political rhetoric but is grounded in data and economic indicators. He attributed the 2022 collapse primarily to a severe dollar shortage, and outlined four key revenue streams that are expected to generate record foreign exchange earnings in 2025:

Tourism – With a target of 2.5 million tourist arrivals, surpassing the 2.3 million recorded in 2018.
Expatriate Remittances – Expected to reach historic highs as overseas Sri Lankans continue to support the economy.
Exports – Both goods and services are projected to deliver record revenue.
Foreign Direct Investments (FDI) – The government has already secured USD 1 billion in FDI, along with USD 1.5 billion in investments for the Colombo Port City.

While acknowledging the progress made in overcoming the dollar crisis, the President also cautioned about the upcoming challenge of debt servicing, which is set to begin in 2028. “We must build a feasible economy in 2026 and 2027 to prepare for that responsibility,” he said.