Sri Lanka announces 2023 budget aimed at clinching IMF deal

Sri Lanka Economic Crisis: IMF recommendations have only been looked at to stabilise the economy, Wickremesinghe said.

The crisis-hit Sri Lankan economy can turnaround by end of 2023 if budget policies which are not limited to the International Monetary Fund's recommendations are followed, President Ranil Wickremesinghe said in the budget speech on Monday.

Sri Lanka Economic Crisis A Sri Lankan flag is waved by a protester. (AP)

IMF recommendations have only been looked at to stabilise the economy, Wickremesinghe, who is also the country's finance minister, told parliament, delivering the first annual budget since he took office in July.