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Sri Lanka's budget will strive to return economy to growth, meet IMF targets

Sri Lanka's upcoming 2024 budget announcement faces a delicate balancing act. The government aims to sustain an IMF-led bailout by increasing revenue through tax raises while steering the crisis-stricken economy towards growth. President Ranil Wickremesinghe, doubling as finance minister, faces the challenge of presenting a budget that bolsters tax income, streamlines spending, and catalyzes an economic revival. This turnaround is crucial for Wickremesinghe's political standing, perceived as pivotal for the 2024 presidential elections. The budget's success hinges on navigating the demands for financial stability, economic recovery, and political viability.