Sri Lanka, May 22 -- Colombo, May 22, 2024 - In a significant move to bolster the country's economy, the Economic Transformation Bill and the Public Financial Management Bill were presented to the Parliament today for the first reading. The parliamentary session commenced at 9:30 a.m., marking the introduction of these crucial legislative measures.

The government has emphasized that these bills are designed to enhance the management of public finances and prevent future economic downturns. State Minister of Finance, Shehan Semasinghe, highlighted the importance of these bills in safeguarding against economic instability and fostering sustainable growth.

The Economic Transformation Bill, according to Semasinghe, aims to avert future econ...