Sri Lanka introduces economic reforms agenda to boost economic recovery
May 2, 2023 05:24 pm
In a bid to revive the country’s struggling economy, Sri Lanka has implemented a comprehensive economic reforms agenda, the President’s Media Division (PMD) reported.
Accordingly, the government has initiated several key recovery strategies, with the establishment of a National Productivity Commission being a flagship project.
Despite on-going economic constraints, the government allocated funds for the commission’s establishment in the Budget 2023. An inter-ministerial Working Group has been appointed to lead the task, comprising members from various ministries, departments, and organizations.
The Working Group aims to explore international insights on productivity materialization, and to this end, the Government reached out to the Australian Productivity Commission, which is recognized as an international standard. In response, the Australian High Commission in Sri Lanka expressed their willingness to support Sri Lanka in this regard.
To facilitate knowledge-sharing, the Australian Productivity Commission conducted a virtual session on April 27th, 2023, for the Sri Lankan Working Group assigned to establish the commission. The event was hosted by the Presidential Secretariat.
This initiative marks another engagement between the Government of Australia and the Government of Sri Lanka, reflecting their support for Sri Lanka’s economic reforms and revival.
