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4 days ago · The initial step in the digitalisation of government services, ‘GovPay’, will be officially launched under the patronage of President Anura Kumara Dissanayake on February 7th, 2025. This ground-breaking initiative will streamline and …
Sri Lanka records highest ever export revenue of USD16.17 bn in …
Jan 27, 2025 · The latest report from the Sri Lanka Export Development Board reveals that the country achieved a record-breaking total export revenue of US$ 16.17 billion in 2024. This marks the highest export earnings in Sri Lanka’s history, surpassing the previous peak of US$ 15.72 billion recorded in 2018. The 2024 figure comprises US$ 12.70 billion from...
Sri Lanka's Economic Turnaround: A Beacon of Resilience and …
Jun 27, 2024 · By Jithendra Antonio In a historic address to the nation on June 26, Sri Lankan President Ranil Wickremesinghe announced the successful signing of bilateral debt restructuring agreements with the Paris Club, India, and China. This milestone marks a significant turning point in Sri Lanka’s recent history, demonstrating the effectiveness of strategic leadership, …
Government Allocates Record-High Budget for Capital Expenditure
Jan 30, 2025 · Several decisions by the government to facilitate investors A nation cannot progress without a transformative shift in public attitudes. Economic resources and opportunities must be introduced at the village level. Plans to prepare Sri Lanka for a transformation in Southeast Asia Moving from an individual-targeted aid approach to a community …
Sri Lanka's Economy Stabilized; Continued Reforms Critical to …
Oct 10, 2024 · Sri Lanka’s economy has stabilized, with growth expected to reach 4.4 percent in 2024, surpassing earlier forecasts. This positive outlook follows four consecutive quarters of growth driven by the industrial and tourism sectors and supported by critical structural and policy reforms, says the World Bank. Released today, the World Bank’s bi-annual Sri Lanka …
Business Sentiment: Confidence at a 10 year high
Jan 27, 2025 · The index soars for the fourth consecutive month as economic indicators strengthen Recent upgrades by international rating agencies and healthy economic indicators have ignited a wave of optimism about biz prospects. Moody’s Ratings upgraded Sri Lanka’s long-term foreign currency issuer rating from ‘Ca’ to ‘Caa1’ with a stable outlook, after creditors …
Sri Lanka’s Official Reserves reach USD 6.0 bn in August
Sep 27, 2024 · The merchandise trade deficit widened during the eight months ending August 2024 (provisional) compared to the same period in 2023, driven by a larger expansion in import expenditure relative to export earnings. Earnings from tourism and workers’ remittances improved during this period, strengthening the external current account. Meanwhile, despite intermittent …
Sri Lanka Shows Signs of Recovery but Must Maintain Reform …
Apr 11, 2024 · The Asian Development Bank’s (ADB) annual flagship economic publication, the Asian Development Outlook (ADO) April 2024, forecasts Sri Lanka’s economy to record moderate growth of 1.9% in 2024 and 2.5% in 2025 following 2 consecutive years of contractions. Sri Lanka is showing signs of recovery, with green shoots emerging in the second half of 2023.
Sri Lanka holds rates steady, sees rosy inflation, growth outlook
Sep 27, 2024 · Reuters – Sri Lanka’s central bank kept interest rates unchanged on Friday in line with expectations, citing domestic and global uncertainties, but said inflation was likely to remain low and the economy was doing much better than initially expected. The Central Bank of Sri Lanka (CBSL) kept the Standing Deposit Facility Rate at 8.25% and...