A positive outlook on foreign reserves
December 21, 2023 - 10:09 AM
According to the Ministry of Finance, the amount of official reserves in the country will exceed four billion US dollars by the end of this year.
The ministry points out that it is higher than the expected figure for this year.
Gross reserves have strengthened significantly with foreign exchange inflows to the gove ment.
The Ministry of Finance has indicated that the gove ment has received 787 million US dollars in foreign exchange in the month of December this year.
The gove ment has received the second installment of 337 million US dollars from the Inte ational Monetary Fund, 200 million US dollars from the Asian Development Bank and 250 million US dollars from the World Bank in the month of December.
The Presidential Media Division states that the gove ment's aim is to strengthen the budget and improve the country's exte al reserves.
Meanwhile, President Ranil Wickramasinghe says that to speed up the economic growth in this country, we should work on a broad strategic process.
The President has pointed out that if everyone faces the current challenges together, they will surely be able to secure the economic prosperity of this country and overcome the economic challenges in the next few years.
President Ranil Wickramasinghe has expressed these views while addressing the 19th General Assembly of the Association of Inland Revenue Commissioners.
Mr. Ranil Wickramasinghe further stated that the importance of fostering a highly competitive economy as well as the challenges in the country's trade balance should be understood, and for that, trade agreements with countries such as India, China, Singapore and Thailand will be entered into.
(lknews.lk)
The ministry points out that it is higher than the expected figure for this year.
Gross reserves have strengthened significantly with foreign exchange inflows to the gove ment.
The Ministry of Finance has indicated that the gove ment has received 787 million US dollars in foreign exchange in the month of December this year.
The gove ment has received the second installment of 337 million US dollars from the Inte ational Monetary Fund, 200 million US dollars from the Asian Development Bank and 250 million US dollars from the World Bank in the month of December.
The Presidential Media Division states that the gove ment's aim is to strengthen the budget and improve the country's exte al reserves.
Meanwhile, President Ranil Wickramasinghe says that to speed up the economic growth in this country, we should work on a broad strategic process.
The President has pointed out that if everyone faces the current challenges together, they will surely be able to secure the economic prosperity of this country and overcome the economic challenges in the next few years.
President Ranil Wickramasinghe has expressed these views while addressing the 19th General Assembly of the Association of Inland Revenue Commissioners.
Mr. Ranil Wickramasinghe further stated that the importance of fostering a highly competitive economy as well as the challenges in the country's trade balance should be understood, and for that, trade agreements with countries such as India, China, Singapore and Thailand will be entered into.
(lknews.lk)
