News Today: Sri Lanka aims to boost foreign reserves to US$ 7 billion, with the Central Expressway and Port City driving bold economic growth.

President Anura Kumara Dissanayake yesterday announced that the Government aims to boost foreign reserves to US$ 7 billion by the end of this year, marking a bold economic recovery target. He highlighted that bank interest rates have been successfully reduced to single digits, encouraging growth across key sectors.

The President revealed that Sri Lanka has already attracted US$ 1 billion in direct investment during the Government’s first year. In the Port City, four projects worth US$ 1.4 billion have been approved, while another major investment of US$ 1.2 billion is nearing approval during the upcoming visit to Japan.

He emphasized that Sri Lanka will experience the highest growth in tourism, exports, and remittances, further strengthening the economy.

President Dissanayake made these remarks at the launch of the Central Expressway Kadawatha–Mirigama section construction. The 37 km section, costing Rs. 229.5 billion, will be funded through local resources and a concessional loan from China’s Exim Bank at an interest rate between 2.5% and 3.5%. The project is expected to finish by mid-2028.

He added that corruption and political mismanagement led to the 2022–2023 crisis, but the current administration is determined to rebuild Sri Lanka within half a decade. Infrastructure projects, public service reforms, and strict enforcement of the rule of law are central to this recovery.

The President noted that Sri Lanka is approaching two consecutive years of nearly 5% economic growth, alongside record fiscal discipline, with the budget deficit lower than projections.

“This year marks a turning point,” he declared. “We are building a modern economy, transforming political culture, and ensuring Sri Lanka never faces another lost decade.”