Category: Economy
Sri Lanka Tightens Oversight on Outward Remittances for Imports
In a move to strengthen the monitoring of foreign exchange leaving the country, the Government of Sri Lanka has introduced strict new regulations targeting outward remittances for import transactions. The mandate was enacted under the Imports and Exports (Control) Act, No. 1 of 1969, through a Gazette Extraordinary issued by the Minister of Finance, Planning, […]
Sri Lanka Launches National Export Development Plan 2026 – 2030; Six Cross Sector Enablers and Eight Priority Sectors Identified
Marking a significant milestone in Sri Lanka’s economic development, the National Export Development Plan (NEDP) 2026–2030 was officially launched today, 16 June 2026. Hon. Sunil Handunneththi, Minister of Industries and Entrepreneurship Development, attended the event as the Chief Guest. In addition, several Ministers representing the Government, including Dr. Anil Jayantha Fernando, Minister of Labour and […]
UNDP and Central Bank of Sri Lanka Strengthen Partnership to Advance Financial Literacy
The United Nations Development Programme (UNDP) in Sri Lanka and the Central Bank of Sri Lanka (CBSL) today formalized the 2nd phase of a continued partnership, reaffirming their joint commitment to advancing financial literacy under Sri Lanka’s National Financial Literacy Roadmap (2024–2028), a key pillar of the National Financial Inclusion Strategy (NFIS). The partnership was symbolically […]
Sri Lanka GDP Growth Rate YoY increased to 5.1-pct
The GDP for the first quarter of 2026 at constant price (2015) has increased up to Rs. 3,652,503 million from Rs. 3,476,664 million which was reported in the first quarter of 2025. The GDP growth rate for the first quarter of year 2026 has been reported as 5.1 percent of positive growth rate. In the […]
Sri Lanka to Unveil National Export Development Plan 2026–2030
The Sri Lanka Export Development Board (EDB) has announced the official launch of the National Export Development Plan (NEDP) 2026–2030, marking a significant milestone in the country’s economic journey. Developed under the guidance of the Ministry of Industry and Entrepreneurship Development, with technical assistance from the Asian Development Bank (ADB), the Plan is aligned with […]
IMF Board Approves Sri Lanka’s Fifth & Sixth Reviews, Unlocks USD 695 Mn for Reforms
The International Monetary Fund’s Executive Board has completed the combined Fifth and Sixth Reviews of Sri Lanka’s Extended Fund Facility, unlocking immediate access to SDR 508 million (approximately US$695 million) to bolster the country’s economic policies and reforms. Performance under the program has been described as broadly strong. Key prior actions, including restoring fuel and […]
Sri Lanka’s Exports Surpass USD 5.7 Bn in First Four Months of 2026
Sri Lanka’s total exports, including both merchandise and services, reached US$ 1,380.93 million in April 2026, marking a year-on-year growth of 6% compared to April 2025. Based on provisional data from Sri Lanka Customs, along with estimated figures for Gems & Jewellery and Petroleum Products, merchandise exports in April 2026 rose by 9.87% to US$ […]
Central Bank of Sri Lanka launches Complaint Management System for Financial Consumers
The Central Bank of Sri Lanka (CBSL) announces the launch of an online Complaint Management System (CMS) marking a significant step to facilitate the submission of complaints and grievances by financial consumers relating to Financial Service Providers (FSPs) regulated by CBSL. The CMS has been introduced with the aim of enhancing accountability, efficiency, and transparency […]
Sri Lanka’s New VAT Amendment to Digitize Tax Collection via Secured POS Systems
As part of a strategic effort to modernize the national tax infrastructure, the Government of Sri Lanka has tabled an amendment to the Value Added Tax (VAT) Act, No. 14 of 2002. The proposed Clause 12 introduces Section 64B, which centers on the integration of “secured point of sale machines” into the daily operations of […]
ADB Fact-Finding Mission Visits EDB to Review Progress of National Export Development Plan
The Sri Lanka Export Development Board (EDB), in collaboration with the Asian Development Bank (ADB), is making significant progress in the formulation of the National Export Development Plan (NEDP) for the period 2026–2030. This strategic initiative is designed to position Sri Lanka on a path of sustained export-led economic growth, aligned with the Government’s national […]
Sri Lanka’s Export Performance Remains Steady with Strong Q1 2026 Growth
Sri Lanka’s total exports, including both merchandise and services, reached US$ 1,467.31 million in March 2026, reflecting a year-on-year decline of 5.2 % compared to March 2025. However, on a month-on-month basis, exports increased by 9.0% compared to February 2026 (US$ 1,346.2 million), indicating a recovery in export momentum during the month. According to provisional […]
Central Bank Releases the Annual Economic Review for the Year 2025
The Annual Economic Review 2025, the publication in accordance with Section 80 of the Central Bank of Sri Lanka Act, No. 16 of 2023, was presented to His Excellency Anura Kumara Dissanayake, the President and the Minister of Finance, Planning and Economic Development, by Dr. P Nandalal Weerasinghe, the Governor of the Central Bank of […]