As Sri Lanka embarks on a critical phase of economic recovery, the government has unveiled a set of tax reforms aimed at enhancing fiscal sustainability and alleviating economic burdens. Affirming the country’s path to economic recovery, President Anura Kumara Dissanayake announced these tax reforms during his address on 18 December 2024. He also highlighted the significant progress made in restructuring USD 12.55 billion in debt, including USD 1.7 billion of defaulted debt, with a stated goal of increasing foreign reserves to USD 15.1 billion.

The Sri Lanka Electricity Act No. 36 of 2024 marks a significant development in the nation’s journey toward modernizing its energy sector. Enacted with the aim of streamlining the regulation, generation, transmission, and distribution of electricity, this legislation addresses longstanding gaps in the industry while introducing provisions designed to foster investment, promote sustainability, and enhance energy security.