Economic Recovery Alone Won't Cut It — Sri Lanka Must Prioritise Job Creation, Warns Dr. Harsha de Silva

Prominent economist and opposition parliamentarian Dr. Harsha de Silva has sounded a clear warning to the government: achieving economic stability is only the first step, and without a concrete plan to generate employment, Sri Lanka's recovery will remain incomplete and fragile.

Stability Without Jobs Is Not Enough

Dr. de Silva stressed that while the country has made notable progress in restoring macroeconomic stability following its worst financial crisis in decades, ordinary Sri Lankans are yet to feel the benefits of that recovery in their daily lives. He argued that stabilising the economy and creating meaningful employment opportunities are two entirely different challenges — and that the latter demands urgent attention.

The former State Minister of Finance pointed out that economic indicators alone do not reflect the ground reality faced by thousands of unemployed and underemployed citizens across the island. For many families, the cost of living remains crushing, and the absence of steady income continues to push people to the margins.

A Call to Action for Policymakers

Dr. de Silva called on the government to move beyond stabilisation measures and shift its focus toward policies that actively stimulate job creation — particularly for the country's youth, who represent both a significant demographic and a largely untapped economic resource.

• Targeted investment in sectors with high employment potential
• Strengthening vocational and technical training programmes
• Creating an enabling environment to attract foreign and local investment
• Supporting small and medium enterprises as engines of job growth

Economic stability is not enough — Sri Lanka needs jobs. Without employment, the recovery will not reach the people who need it most.

Broader Implications for Sri Lanka's Recovery

Sri Lanka has been navigating the aftermath of its 2022 economic collapse, which saw foreign reserves dry up, essential goods become scarce, and millions of citizens pushed into financial hardship. While the country has since reached an agreement with the International Monetary Fund and taken steps to restore fiscal discipline, critics like Dr. de Silva argue that the human dimension of the crisis remains largely unaddressed.

His remarks reflect a growing sentiment among economists and civil society groups that sustainable recovery must translate into tangible improvements in living standards — and that job creation is the most direct path to achieving that goal.

As Sri Lanka prepares for the next phase of its economic roadmap, the pressure is mounting on the government to demonstrate that stability can be converted into opportunity for all citizens, not just reflected in headline economic figures.