The World Bank says that one-fourth of the country’s population is poor. Sri Lanka Latest News
This is stated in a report released by the World Bank on April 2nd.
According to the report, in 2019, the poor population in this country was 11%, and in 2024, it has increased to 26%.
The World Bank has emphasized that the arrangement being carried out jointly by the International Monetary Fund and the government has become oppressive to the people, but it is essential to work according to the agreement to achieve economic stability.
According to the World Bank, the limited purchasing power due to factors such as rising inflation, loss of income and declining remittances has contributed to the rise in poverty.
According to the World Bank report, the income of approximately 60% of the families in Sri Lanka has decreased.
The World Bank report, which says that the closure of micro and medium-scale enterprises has had a major impact on the labour market, says that the urban labour force, which was 52.3% in 2019, has dropped to 45.2% in the third quarter of 2023.
According to the World Bank report, 17.5% of the families in Sri Lanka have started to cut their expenses for education and health to combat the rising cost of living.
