Sri Lanka has established macroeconomic stability within the span of two years, outpacing previous forecasts by experts who estimated the recovery process would take at least five years. Addressing a gathering at the Ministry of Labour in Colombo, Labour Minister and Deputy Minister of Finance Dr. Anil Jayantha Fernando credited the turnaround to the collective contribution, cooperation, and commitment of all key stakeholders engaged in restoring the national economy.
Speaking on September 30 during the official signing ceremony for the Decent Work Country Programme (DWCP) 2026–2032 with the International Labour Organization (ILO), Dr. Fernando noted that the country’s immediate imperative is converting stability into lasting structural change. He stressed that the primary objective is executing strategies that propel the nation from baseline stability toward full economic transformation, reinforcing the Government’s overarching vision of creating “A Thriving Nation – A Beautiful Life.”
To facilitate this transition, the Government is placing priority on inclusive and sustainable development within its fiscal framework. Dr. Fernando announced that work is underway on the 2027 Budget, which is expected to be presented later this year, designed around past economic realities, the current landscape, and urgent domestic needs. The Minister also underscored the vital role of decent work within this economic shift, noting its fundamental ties to workers’ rights, improved labor conditions, human dignity, freedom, and democratic values.
Key Developments
- Sri Lanka reached macroeconomic stability in two years, significantly outpacing earlier five-year projections.
- The Ministry of Labour signed the Decent Work Country Programme (DWCP) 2026–2032 Memorandum of Understanding with the International Labour Organization (ILO).
- The Government is currently drafting the 2027 Budget for presentation later this year, prioritizing sustainable and inclusive growth.
- The DWCP framework was established through tripartite collaboration between the Government, trade unions, and employers’ organisations to target shared labor priorities.
The landmark event was attended by high-ranking dignitaries and stakeholders, including Deputy Minister of Labour Mahinda Jayasinghe, ILO Country Director for Sri Lanka Jonny Simpson, New Zealand High Commissioner to Sri Lanka David Pine, Secretary to the Ministry of Labour S. M. Piyatissa, and Commissioner General of Labour Nadeeka Wataliyadda, along with representatives from trade unions, employers’ organisations, and local and international bodies.