Category: Economy
Sri Lanka’s PM says 2.5mn Freehold lands to come into market
Aug 10, 2015 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe said, the government will provide freehold land titles for those who have enjoyed occupation of land under different government schemes since 1931. “We want to encourage small ownership, a strong middle class and this is why we will be giving full hold to the […]
”’ rating confirmed: S&P rating
Aug 07, 2015 (LBO) – Standard & Poor’s ratings has confirmed Sri Lanka’s ‘B+’ rating with a stable outlook, a statement said. “Foreign reserves will grow, external debt will fall in the next three years as risks associated with the country’s moderately weak external settings are mitigated by growing reserve buffers that improve Sri Lanka’s […]
Sri Lanka’s President assures support and freedom for private sector to engage in businesses
Aug 06, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena assured fullest support for private sector businesses to operate freely while government would build strong relations with other countries which would help trade and investment.“The government and private sector should share a bond, friendliness, trust and transparency to develop the economy.I believe the government should […]
‘s Fitch Affirms Ceylon Dollar Bond Fund at BB-/V-5
Aug 05, 2015 (LBO) – Sri Lanka’s Fitch Ratings has affirmed Ceylon Dollar Bond Fund’s Fund Credit Quality Rating of ‘BB-‘ with a Fund Volatility Rating of ‘V-5’. The full text of the announcement is reproduced below. Fitch Affirms Ceylon Dollar Bond Fund at ‘BB-‘/’V-5’ Fitch Ratings-London/Colombo-05 August 2015: Fitch Ratings has affirmed Ceylon Dollar Bond […]
Sri Lanka should have simple, clear, predictable economic policies: Razeen Sally
Aug 05, 2015 (LBO) – Sri Lanka should have policies that are simple, clear and predictable for the economy to move ahead rather than a plethora that hold businesses back, an economist said. “Simplicity is the key,” Razeen Sally, an Associate Professor at the Lee Kuan Yew School of Public Policy, National University of Singapore, […]
Sri Lanka should move on to next generation of reforms to achieve USD50bn export target: PM
Aug 04, 2015 (LBO) – Sri Lanka has to move towards the next generation of reforms, opening up factor and product markets while fasting government approval procedures that gives are a hindrance to businesses, Prime Minister Ranil Wickremesinghe said. “Firstly it’s the question of mindset. The change of mindset in the private sector.From crony capitalism […]
Sri Lanka to build economic development zones to encourage investments
Aug 04, 2015 (LBO) – Sri Lanka is planning to build economic development zones grouping about four investment zones to encourage investment and support 50 billion US dollars export target, Prime Minister Ranil Wickramasinghe said. “In order to ensure that there are large investors coming in to the country, we are having economic development areas,” […]
‘s Ceylon Chamber economic policy forum kicks off
Aug, 04, 2015 (LBO) – Sri Lanka’s Economic Summit 2015, with the participation of Sri Lanka’s President Maithripala Sirisena and Ranil Wickremesinghe will kick off Tuesday (04), in capital Colombo.The forum will cover national vision including: Policy Implementation and Perspective, A New Global Economic Strategy for Sri Lanka, Driving Exports – Use of Social Media […]
Sri Lanka’s budget 2016 targets budget deficit of 5.5 pct- of GDP
Aug 03, 2015 (LBO) – Sri Lanka wants to reduce the budget deficit to 5.5 percent of gross national production over 2016 to 2018, maintaining the state investment at around 6 to 8 percent of GDP, Cabinet Spokesman Minister Rajitha Senaratne said.The Finance Ministry had informed the cabinet that it has begun preparations for the […]
Sri Lanka records a deflation of 0.2-pct in July after two decades
July 30, 2015 (LBO) – Sri Lanka has experienced a deflation of 0.2 percent for July 2015, for the first time after March 1995. The main contributor for this decline was the major decrease in non food prices, statistics department said. “This was mainly due to the decrease of electricity and water bills, LP gas, […]
Polonnaruwa to become a metro city at cost of Rs16 bn
July 30, 2015 (LBO) – Sri Lanka’s north central heritage city Polonnaruwa to develop as a metro city at a cost 16,650 million rupees, cabinet spokesman Rajitha Senaratne said at a media briefing held Thursday. Polonnaruwa town and its nodal points known as Polonnaruwa, Kaduruwela and New Town are growing fast as Heritage City, Commercial […]
‘s outstanding public debt stands at Rs7.9 trillion
July 30, 2015 (LBO) – Sri Lanka’s total outstanding public debt including debt taken by state enterprises was 7,959,939 million rupees as at the beginning of the month of July 2015, cabinet spokesman Rajitha Senaratne said.Treasury Bonds stands at 3,629,903 million rupees where as treasury bills was 796,031 million rupees.Domestic debt was 5,313,713 million rupees […]