According to the latest report presented by the World Bank on Sri Lanka’s development progress, there will be no significant reduction in poverty in Sri Lanka until 2025, Mr Wasantha Athukorala, senior professor of the Department of Economics and Statistical Studies of the University of Peradeniya told ‘Mawrata’. (Sri Lanka Latest News)
Accordingly, they have predicted that by the end of 2025, more than 50 lakh people in Sri Lanka may be suffering from poverty.
The Asian Development Bank has predicted in 2024 (this year) that economic growth rates may be below the economic growth rates predicted by the World Bank.
Accordingly, the Asian Development Bank indicates an economic growth of 1.9% in 2024 and an economic growth of 2.5% in 2025.
The professor mentioned that it can be expected that the country’s poverty will not decrease significantly in the future with this kind of downward growth.
According to the World Bank, the economic growth rate is predicted to be 2.2% in 2024 and 2.5% in 2025.
However, it seems that it will be difficult to restore the people’s lives that have collapsed through such low economic growth.
Prof. Wasantha Athukorala pointed out that economic growth of at least 5% will have to be achieved in the next few years to restore the collapsed people’s lives and bring the country’s income disparity to a lower level.
