Former Speaker Karu Jayasuriya has warned that delays in executing institutional and economic reforms under the Economic Transformation Act of 2024 threaten Sri Lanka's long-term economic stability.
Posting on X, he highlighted critical shortfalls in export growth, foreign direct investment, and structural changes within key state bodies.
He stressed that while the 2024 legislation establishes binding national performance metrics and requires annual reporting to Parliament, implementation has faltered significantly.
Examining the national economic data, Jayasuriya observed that Sri Lankan exports currently hover around 16 per cent of gross domestic product, falling far short of the 25 per cent target mandated by the act.
He pointed out that foreign direct investment inflows continue to severely underperform against official projections.
Furthermore, foreign exchange reserves have remained stagnant at USD 6.85 billion, while planned restructuring efforts at the Board of Investment have ground to a halt.
The former Speaker urged authorities to either execute the statutory reforms immediately or engage with stakeholders to amend the legislation openly.
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