RE: SEC-S15W5: "Foreign Exchange"
Greetings friend,
Sri Lanka has like every other nations indeed faced some tough times economically, especially after the impact of COVID. But don't worry, the government is working hard to stabilize the economy. One way we all earn money as a country is through workers' remittances popularly known as Taxes.
Sri Lankans working overseas send back billions of dollars annually also helps boost your foreign exchange reserves. However, I'm sorry to hear of the noticeable drop in bank remittances due to the rise of crypto shortcuts. It is good that the government is now implementing different plans to address this.
Tourism is another important source of income for nations. So sorry also to hear about the hits on your tourism sector.
The apparel sector is also significant one as Sri Lanka is known for producing quality garments, and contributing 5.4% of your nations GDP in 2022. However economic uncertainties and supply chain challenges have also affected everyone. But then, despite all the challenges, I am happy to hear that everyone is still determined to overcome them and keep pushing forward.
Good luck in the contest my friend.
That's a wonderful summary once again @sahmie, I like how you do it 😉