In 2022, at least half a million people lost their jobs in the country, according to the World Bank.
Most of those who have lost their jobs are women working in industry and service sectors.
The World Bank points out that the cost of living for those already classified as poor has risen by 65%.
For the non-poor, the increase was 57%.
The World Bank has also said in a report released yesterday that there will be a significant loss of welfare for all Sri Lankans.
In times of crisis, people often cope by adopting harmful survival strategies.
For example, they limit nutritious food intake, forgo education and preventive health investments, or engage in informal and subsistence work.
These negative actions can erode decades of progress in human capital, with effects that can last generations.
Worsening food insecurity has already increased from 7.4 to 9.2% between 2021 and 2022 as child malnutrition.
The World Bank report also states that the international community should help Sri Lanka strike the right balance by adopting critical reforms to restore the country’s economy and ensure people have access to better jobs, economic opportunities, and a safety net.
Thank god non of them were parliamentarian.