Category: Economy
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 […]
IMF Staff Reaches Staff-Level Agreement on the Combined Fifth and Sixth Reviews under Sri Lanka’s EFF Arrangement
An International Monetary Fund (IMF) mission team led by Mr. Evan Papageorgiou visited Sri Lanka from March 26 to April 9, 2026, to discuss recent macroeconomic developments and progress in implementing economic and financial policies under the Extended Fund Facility (EFF) arrangement. At the end of the mission, Mr. Papageorgiou issued the following statement: “IMF […]
Sri Lanka and World Bank Group Launch New Partnership to Create Jobs, Attract Private Investment
The World Bank Group and the Government of Sri Lanka today launched a new five-year Country Partnership Framework (CPF) to support Sri Lanka’s continued recovery, help achieve its 7% medium-term economic growth target, and support job creation. “We are committed to building on the continued macroeconomic stability, strengthened governance and revenue-based fiscal consolidation that we have already […]
Ceylon Chamber Highlights Importance of Balanced Tax Policy in Inland Revenue (Amendment) Bill 2026
The Ceylon Chamber of Commerce, through its Tax Steering Committee, has actively engaged with stakeholders on the proposed Inland Revenue (Amendment) Bill of 2026, recognising its potential implications for businesses and the broader economy. While acknowledging the importance of updating the tax framework, the Chamber’s efforts have focused on assessing the impact of the proposed […]
Sri Lanka’s Total Export Earnings Hit $1.4 Billion in February, Up 4.22% YoY
Sri Lanka’s total exports, including both merchandise and services, reached US$ 1,401.78 million in February 2026, reflecting a notable year-on-year growth of 4.22% compared to February 2025. According to provisional data from Sri Lanka Customs, along with estimated figures for Gems & Jewellery and Petroleum Products, merchandise exports for February 2026 increased by 1.32% to […]
IMF Team Set to Visit Colombo for Crucial Dual Review
The International Monetary Fund (IMF) has confirmed that a staff team led by Mission Chief Evan Papageorgiou will visit Colombo from March 26 to April 9, 2026. This mission is designed to facilitate high-level discussions with Sri Lankan authorities regarding the nation’s ongoing economic recovery and policy trajectory. The visit marks a critical juncture for […]
Sri Lanka’s Economy Hits 5% Growth in 2025; 4.8% Expansion in Q4
The Department of Census and Statistics (DCS) of Sri Lanka has reported a 5.0% GDP growth rate for 2025, with the economy expanding to Rs. 13,128,577 million at constant prices. This positive momentum was supported by a final fourth-quarter growth rate of 4.8%. In nominal terms, the GDP at current prices rose by 8.8% to […]
Macrofinancial Strength Drives Credit Surge in 2025, But Risks Loom: CBSL
Sri Lanka’s macrofinancial conditions strengthened throughout 2025, fueling a major expansion in credit despite persistent external vulnerabilities. According to recent year-end data, the financial sector has shifted its focus heavily toward the private sector, supported by a broad-based recovery and accommodative monetary policy. The banking sector saw credit growth accelerate to 21.4% year-on-year by the […]
Ceylon Chamber Urges Measures to Safeguard Economic Stability Amid Global Uncertainty
The evolving global situation and the escalating conflict in the Middle East requires coordinated measures to safeguard economic stability. The Ceylon Chamber remains ready to work with the Government in addressing potential economic risks and has outlined detailed policy recommendations. The Chamber, in its submission of 11 March 2026, recommended a number of policy measures […]