President Ranil Wickremesinghe, addressing Parliament today (06), outlined his ambitious economic plans aimed at securing temporary relief from debt payments spanning from 2023 to 2027. Emphasizing his commitment to diligent repayment within the timeframe of 2027 to 2042, the President's statement sparked anticipation and scrutiny among lawmakers and citizens alike.

Highlighting the nation's economic progress, Wickremesinghe declared the commencement of its revival in the third quarter of 2023. He underscored international financial institutions' forecasts of potential economic growth ranging from 2% to 3% for the year 2024, instilling hope for a prosperous future.

The President further announced a remarkable surge in state revenue, boasting a staggering increase of over 50% in 2023 compared to the previous year. Notably, Wickremesinghe proudly proclaimed the achievement of a surplus in the primary account, heralding a significant milestone in the country's financial landscape.

In a move aimed at bolstering the government's fiscal credibility, Wickremesinghe revealed the settlement of all outstanding payments owed to contractors who had rendered services to the government for three to four years. This gesture not only reflects the administration's commitment to fulfilling its financial obligations but also signals a positive trajectory in fostering stronger partnerships with stakeholders.