The United Nations (UN) expressed expectations that Sri Lanka to face numerous challenges this year, mainly as a result of the coronavirus while the government has sought public participation to achieve Sustainable Development Goals (SDG) formulated by the UN system.
According to a UN report, Sri Lanka’s major challenges are food shortages, dwindling foreign reserves and sovereign debt risks.
The 2022 World Economic Situation and Prospects (WESP) report, produced by the UN Department of Economic and Social Affairs (DESA), cites a cocktail of problems that are slowing down the economy globally, namely new waves of COVID-19 infections, persistent labour market and lingering supply-chain challenges, and rising inflationary pressures.
On Sri Lanka, the report says GDP growth is projected at 2.6 per cent in 2022. Its major challenges include food shortages, dwindling foreign reserves and sovereign debt risks.
The report noted that South Asia faces major downside risks that can strengthen headwinds in achieving the 2030 Agenda.
