This has worked for them sometimes (2009-2011 saw a promising economy) but over the last 10 years has shown repeated failures such as the empty airport and relentless amounts of corruption. I don't think one sector is fundamentally better than the other (the private sector is just as corrupt) but the private sector is the backbone of our economy (80% of the workforce and 50% of the GDP I believe) and is constantly at odds with the Rajapakse family who adopt more nationalistic economic policies and treat the country like a business. The dynamics of the private and government sectors are complex and the tensions between the two cause economic damage and it gets worse with import bans, taxes, USD restrictions etc. The construction of more highways however is looking very promising and should help the economy a bit. The Port City might be good but imo is overhyped when realistically assessing its contribution to SLs economy, especially since its one of the current govts biggest and most hyped projects, it is still is only one piece of a big and very long term puzzle. Recently we've been reading news on huge amounts of money being printed which is honestly a bit scary, but because its covid there's some relief and understanding but at the same time the hit might be bad enough to spiral out of control because a country like SL doesn't have a backup plan or a linear 'recover from disaster' mode.
Maybe in about 10-20 years if China is still interested we will see an uptick which could be great but will come at the cost of Chinese involvement.Īt the moment I don't see many promising economic solutions/proposals and most of the time the news is on how money is wasted (Monorail project, monk using a chopper to disperse holy water etc lol). Both but generally downhill, my prediction is that SL will slowly recover from covid but remain as stagnant as it did before with ever worsening economic tensions.
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