State Minister of Finance Shehan Semasinghe said the reforms have started to yield positive outcomes, reflecting significant progress in multiple areas.

Posting on X State Minister Semasinghe said Sri Lanka's gross official reserves have seen a significant increase, reaching USD 5.5 billion by the end of April 2024.

He said the Sri Lankan rupee has appreciated by approximately 8% against the US dollar so far in 2024.

The State Minister added this will boost investor confidence and enhance Sri Lanka's ability to manage external shocks and meet international obligations and enhance confidence on the economy.

He said the appreciation of the rupee can help lower inflation and reduce the overall cost of living and make it easier for the government and businesses to service foreign debt, thereby improving Sri Lanka's financial reputation globally.