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Sri Lanka to sell international bonds
Taking advantage of its maiden sovereign rating, Sri Lanka plans to sell bonds in the international market, President Mahinda Rajapakse said Thursday. Taking advantage of its maiden sovereign rating, Sri Lanka plans to sell bonds in the international market, President Mahinda Rajapakse said Thursday. Rajapakse, 60, who is also the Finance Minister, said the island […]
International credit ratings ask Sri Lanka to spruce up its act
Top international credit rating agencies have warned Sri Lanka to spruce up act on ‘peace, politics, and public finances’, ahead of a planned international bond issue to finance its war-damaged tsunami-hit economy. Top international credit rating agencies have warned Sri Lanka to spruce up act on ‘peace, politics, and public finances’, ahead of a planned […]
S&P assigns a B+ sovereign rating for Sri Lanka
International ratings agency Standard & Poor’s has assigned a B+ sovereign rating for Sri Lanka, President Mahinda Rajapakse said Thursday. International ratings agency Standard & Poor’s has assigned a B+ sovereign rating for Sri Lanka, President Mahinda Rajapakse said Thursday. Rajapakse, in his capacity as Finance Minister, made this announcement during his budget speech to […]
Sri Lanka secures its first sovereign rating: BB-
Sri Lanka on Thursday secured its first sovereign rating of BB- from Fitch Ratings International but the rating agency warned that ‘peace and politics’ will hold the key to the island future. Sri Lanka on Thursday secured its first sovereign rating of BB- from Fitch Ratings International but the rating agency warned that ‘peace and […]
Budget 2006 – Fabric First
The government will allocate Rs.350 million to write off unpaid loans accumulated by the fabric processing industry in 2006.The government will allocate Rs. 350 million to write off unpaid loans accumulated by the fabric processing industry in 2006. The move will help the government restart fabric manufacturing in Thulhiriya and in Horara. The state is […]
Farmers get bumper harvest from budget
Paddy farmers got a bumper harvest in the Mahinda Chintana budget, with subsidized fertilizer and paddy buying prices upped by one rupee to Rs.17.50. Paddy farmers got a bumper harvest in the Mahinda Chintana budget, with subsidized fertilizer and paddy buying prices upped by one rupee to Rs. 17.50. The Budget proposal said that all […]
Budget 2006 – Where does it all stand?
Sri Lanka Thursday announced higher taxes on corporates, gambling, smoking and liquor to fund a spending spree that includes farm and electricity subsidies and jobs for unemployed. Sri Lanka Thursday announced higher taxes on corporates, gambling, smoking and liquor to fund a spending spree that includes farm and electricity subsidies and jobs for unemployed. President […]
Budget Speech 2006 – Download Copy Here
Budget 2006 Click Here to Download – Budget Speech – Budget Proposals Budget 2006 Click Here to Download – Budget Speech – Budget Proposals
Some of the key highlights of the revised 2006 budget
Some of the key highlights of the revised budget for 2006: Some of the key highlights of the revised budget for 2006: • The budget deficit for 2006 was estimated at Rs.197 billion, up from Rs. 168 billion this year. • The deficit was equivalent to 7.1 percent of GDP (minus tsunami related costs) both […]
Agro sector gets priority
Fertiliser subsidy 8.5 bn. Sector to be freed from all taxs.Concessionary capital to vegetable and fruit farmers. Rs. 10 bn revolving fund for plantation sector and special concessions for replanting Rs. 300 mn for seed farm development ESC on plantation factories down to 0.5 percent from 1 percent Fertiliser subsidy 8.5 bn. Sector to be […]