Journal of Contemporary Issues in Business and Government

Abstract

Sri Lanka is experiencing a severe economic crisis as a result of the country's depletion of
foreign reserves, which has resulted in shortages of food, fuel, medication, cement, and other
necessary products. Sri Lanka is in the midst of a severe economic crisis as a result of the
country's depletion of foreign reserves, which has resulted in food, gasoline, pharmaceutical,
cement, and other essential supplies shortages. As a consequence of the policy initiatives taken
thus far and the improvement in the COVID-19 situation, the Sri Lankan government is
optimistic that the crisis would be addressed shortly. Even though the circumstances on the
ground and analyses of the government's policy measures imply that Sri Lankans would not
receive economic respite anytime soon, global geopolitical-economic trends, particularly in the
aftermath of the Russia–Ukraine war, suggest otherwise. In Sri Lanka, public resistance to the
government's handling of the matter is steadily growing. The declining economic growth is the
subject of this research study.