Sri Lanka celebrated a robust economic recovery in the first quarter of 2024, with a surprising 5.3% GDP growth compared to the previous quarter, rebounding significantly from a 10.7% contraction a year ago. The growth exceeded expectations, buoyed by a sharp 11.8% expansion in the industrial sector. Deputy Finance Minister Ranjith Siyambalapitiya expressed optimism, projecting a 2.2% annual growth for 2024 after navigating through severe economic challenges, including high inflation and a foreign debt default in 2022.